What is "personal property insurance"?

What is "personal property insurance"?

Sam Friedman (Editor-in-Chief, National Underwriter, Property & Casualty Edition) gives expert video advice on: Do I need personal property insurance?; What happens if my property is damaged or stolen while I'm on vacation? and more...

Personal property insurance is very distinct within your homeowners policy, from what is required to cover the home if it is damaged in a fire, in a natural catastrophe of some sort. Personal property could extend from your furniture, it could be your clothing, it could be your personal electronics like a laptop computer, it could be collectibles, like wine, art, stamps for example. All of these things go into personal property protection. Standard items like your furniture can be pretty easily replaced under homeowners policy, but if you have anything out of the ordinary for instance instead of a winter coat you have a fur coat of some sort that has a very very high value, that should be brought to the attention of the insurer, so that it can be independently appraised and added on separately onto your policy.