One of the most common questions we receive is whether home insurance covers personal property around the owner’s property. While standard policies typically cover personal belongings, it’s essential to understand the specifics of what’s included, including exclusions and any policy limitations. Of course, all home insurance policies in Florida aren’t alike, so it’s essential not to make any assumptions and to consult with your insurance rep at Skyline Insurance LLC, serving Jacksonville, FL, for details about your own policy.

It Depends

Most home insurance policies protect personal property both inside and outside the home. This means items such as patio furniture, bicycles, or tools stored in an outdoor shed are usually covered. However, coverage is often subject to certain conditions. For instance, damage or loss caused by theft, fire, or storms is typically included, but floods or earthquakes may be excluded unless additional riders or policies are in place.

Separate Deductible?

Many policies include this protection but may have separate deductibles for things like hurricane damage, which is a risk in Florida. Standard coverage might not suffice for high-value items such as jewelry or electronics. You may need to purchase additional coverage to ensure these items are fully protected.

Actual Cash Value Vs. Replacement Cost

Another thing to remember about personal property coverage is to consider the actual cash value versus replacement cost. The two are different. Some policies only reimburse the depreciated value of an item. In contrast, others cover the cost of replacing it with a new one, so you want to clarify how your insurance company would handle this.

To ensure your personal property is adequately covered, take inventory of your belongings and discuss your policy with your insurance rep at Skyline Insurance LLC, serving Jacksonville, FL. Clarifying what’s covered and what isn’t will go a long way toward giving you peace of mind and protection.