What Does Personal Property Insurance Cover?

Personal property insurance covers items you own or use while they’re in your home or anywhere in the world.

In a homeowners, condo, or renters insurance policy, personal property coverage applies to items you own or use. It can also cover property of others damaged while on your premises.

What perils are covered?

Condo, renters, and certain homeowners insurance policies provide coverage on a named perils basis. This means that the policy will only cover damage caused by specific perils named in your policy documents.

Commonly covered perils include:

  • Fire or lightning
  • Windstorm or hail
  • Explosion
  • Riot or civil commotion
  • Aircraft
  • Vehicles
  • Smoke
  • Vandalism or malicious mischief
  • Theft
  • Falling objects
  • Weight of ice, snow, or sleet
  • Accidental discharge or overflow of water or steam
  • Sudden and accidental tearing apart, cracking, or bulging of pipes

Special Limits on Personal Property

Some types of personal property have special limits because of their value. Some examples are:

  • Jewelry and furs
  • Silverware, goldware, platinumware, and pewterware

For these types of high-value items, a Scheduled Personal Property endorsement can provide greater protection. Items covered under this endorsement are valued at replacement cost, with no deductible.

The following items can have special limits but are not usually eligible for a Scheduled Personal Property endorsement:

  • Equipment used for business purposes.
  • Money and precious metals
  • Securities, documents, records, and stamps
  • Watercraft and its trailers, equipment, and motors
  • Portable electronic equipment
  • Antennas, tapes, wires, records, disks, or other media

The special limit for these items can be increased by endorsement.

What kinds of personal property aren’t covered under a homeowners insurance policy?

Some items are excluded from homeowners insurance coverage because another insurance policy is better suited to that type of property. Homeowners, renters, and condo insurance do not provide coverage for:

  • Animals, birds, or fish
  • Motor vehicles, parts, or electronic equipment
  • Aircraft and hovercraft
  • Business data
  • Credit cards
  • Property owned by roomers, boarders, or home-sharing occupants

The information and descriptions on this site are general in nature. The coverage afforded for a particular loss depends on the specific facts and the terms, exclusions, and limits of the actual policy. Nothing on this site alters the terms or conditions of any policy, as the policy controls coverage. Coverage options, limits, discounts, deductibles, and other features are subject to underwriting criteria, state availability, and effective dates. Coverage provided and underwritten by NJM Insurance Company and its subsidiaries, 301 Sullivan Way, W. Trenton, NJ 08628.