What Contents of a Home Does Homeowners Insurance Cover?

A standard homeowners’ insurance policy covers more than the structure. It also covers the contents of the home, up to a specific amount. This blog explains what items, like fine jewelry and furs, may not be covered under the policy and how to obtain appropriate coverage for them.

At Armor Insurance Group of Virginia Beach, VA, we want you to have the coverage you need in case of emergency. Your standard homeowners’ insurance policy provides contents coverage for losses due to damage or theft. It bases the coverage on a percentage of the total home value. For example, if your home value is $100,000 and the policy covers ten percent of that value for contents, that translates to $10,000.

If you have a hobby that requires expensive equipment, that might not provide enough coverage to replace your home’s contents. Examples of these hobbies include photography, sound recording, home video and hobbyist musicians. Somebody could own two better cameras and exceed the contents coverage trying to replace them.

Other reasons to obtain additional coverage include antiques, jewelry and furs. Covering these high value items requires what insurance agents refer to as floaters, a policy addition to cover large ticket items. These items will have their own deductible.

You might not immediately think of these expensive items. That’s why Armor Insurance Group of Virginia Beach recommends you create a home inventory that lists all the items you’d need to replace if you lost them. Call or visit Armor Insurance Group today to learn more about adding to your homeowners’ insurance policy. We can help you obtain appropriate and affordable coverage.