Homeowner Insurance Unveiled: The Ultimate Guide to Personal Property Coverage!

Posted on November 3, 2023September 13, 2023 by Shield Insurance Agency

Shield Insurance Agency Blog | Homeowner Insurance | Start A Quote Today!

When it comes to protecting your home and belongings, having the right insurance coverage is crucial. One important aspect of a homeowner insurance policy is personal property insurance. In this blog post, we will explore what personal property insurance is, why it is important, and how it can provide peace of mind for homeowners.

Personal Property Insurance

Personal property insurance, also known as personal belongings coverage, is a type of coverage that is included in most homeowner insurance policies. It provides financial protection for your personal belongings in the event of damage or loss due to covered perils such as fire, theft, or vandalism.

Homeowner Insurance Coverage

Home insurance coverage typically includes two main components: property insurance and liability insurance. Property insurance covers the physical structure of your home, while personal property insurance covers the items inside your home. This can include furniture, electronics, appliances, clothing, and other personal possessions.

Having personal property insurance is important because it helps to ensure that you can replace or repair your belongings if they are damaged or destroyed. Without this coverage, you would be responsible for covering the costs out of pocket, which can be a significant financial burden.

Homeowner Insurance

Home insurance policies typically provide coverage for personal belongings up to a certain limit, which is usually a percentage of the total coverage amount for the property. For example, if your home is insured for $200,000 and your personal property coverage limit is 50%, you would have up to $100,000 in coverage for your belongings.

It is important to review your policy and understand the coverage limits for personal property insurance. If you have valuable items such as jewelry, artwork, or collectibles, you may need additional coverage to adequately protect these items. This can be done through a separate policy or by adding a rider to your existing policy.

When determining the value of your personal belongings, it is important to take an inventory of your items and keep documentation such as receipts, appraisals, or photographs. This will help you in the event of a claim and ensure that you receive the appropriate compensation for your belongings.

Personal Items

Home insurance coverage for personal items can also extend beyond the physical structure of your home. For example, if your laptop is stolen while you are traveling, personal property insurance can provide coverage for the loss. This coverage can also extend to items that are temporarily outside of your home, such as belongings in a storage unit or items in your car.

When it comes to personal property insurance, it is important to work with a reputable insurance agency that can provide you with the right coverage for your needs. Shield Insurance Agency represents over 40 insurance companies, ensuring that you have access to a wide range of options and competitive rates.

If you are interested in obtaining a homeowner insurance policy or reviewing your existing coverage, contact Shield Insurance Agency at (616) 896-4600 for a free quote today. You can also start the quoting process by visiting this LINK, and an agent will be in touch soon to assist you.

In conclusion, personal property insurance is an essential component of a homeowner insurance policy. It provides financial protection for your personal belongings in the event of damage or loss. By understanding your coverage limits and working with a reputable insurance agency, you can ensure that your personal items are adequately protected. Don’t wait until it’s too late – get the right coverage for your home and belongings today.

Insurance for Summer RVs

Posted on July 3, 2019April 28, 2022 by Shield Insurance Agency

Insurance for Summer RVs

With the great Michigan summer here, everyone is getting ready to get their trailers, fifth wheels, and RV out on the road. Many times these items are added to an auto policy. While the price is cheap, it leaves you with many missed opportunities for proper coverage.

Did you know that when these items are insured under an auto policy the liability coverage only applies while your trailer is attached to your vehicle? Once you park on your campsite and detach your trailer, you no longer have any liability coverage. If an accident happens you would need to file a claim against your homeowner’s insurance instead of a claim on trailer policy. Homeowners claims are rated harder than a claim on a trailer policy

Another missed coverage is with personal property. Many times when a trailer is insured under an auto policy there is no coverage for personal property, just physical damage to the trailer if you have that coverage. If someone broke into your trailer and everything was stolen, there would be no coverage for your personal property. Again you would need to file a claim on your homeowner’s policy and that deductible would apply

While insuring your travel trailer or fifth wheel on its policy may cost more, the benefits of having better and proper coverage outweigh the price. One of the main reasons for having insurance is to make sure your property is covered. Who wants to pay for insurance and when it comes time to file a claim find out the claim isn’t covered. If you have a travel trailer or fifth wheel make sure to discuss with your agent how and when you use your trailer to make sure you are properly covered.

Flood Insurance: What is Covered

Posted on June 22, 2019August 31, 2023 by Shield Insurance Agency

Shield Insurance Blog | Flood Insurance | Contact our office!

Back in August we talked about the definition of a flood and how it affects clients in Michigan. I would like to continue that topic and discuss what is actually covered by a flood insurance policy. According to the NFIP, generally, physical damage to your building or personal property “directly” caused by a flood are covered by your flood insurance policy. Here is a brief list (not limited to) of what is covered under “Building” coverage:

The insured building and it’s foundation
The electrical and plumbing systems
Central air conditioning equipment, furnace and water heaters
Refrigerators, cooking stoves and built-in appliances like dishwashers
Permanently installed carpet over an unfinished floor
Detached garage (up to 10% of building coverage)
Debris removal

A brief list of what is covered under the “Personal Property” coverage:

Personal belongings such as clothing, furniture and electronic equipment
Curtains
Portable and window air conditioners
Portable microwave ovens and portable dishwashers
Carpets not included in building coverage
Clothes washers and dryers
Food freezers and the food in them

What is not covered by either Building or Property Coverage:

Damage caused by moisture, mildew or mold that could have been avoided by the property owner.
Currency, precious metals and valuable papers such as stock certificates.
Property and belongings outside of a building such as trees, plants, wells, septic systems, walks, patios, fences, seawalls, hot tubs and swimming pools.
Living expenses such as temporary housing
Financial loss caused by business interruption
Most self propelled vehicles such as cars, including their parts.

Now, with all of the above being said, we will discuss next time the coverage limitations in a basement. Stay tuned because I think you will be surprised.

*Lists taken from the FEMA National Flood Insurance Program Summary of Coverage.*

Submitted by Tammy