Personal property refers to the goods, possessions, and assets that you own and keep inside or outside of your home. It encompasses everything that is not considered part of the physical structure of your house, such as the walls or the roof.

When you purchase property insurance, coverage for personal belongings is typically included. This means that if your items are damaged, stolen, or destroyed by a covered event, such as a fire, theft, or a natural disaster, your policy may provide compensation to repair or replace them.

It’s important to note that there are usually protection limits for personal property, which means that the company will only pay up to a certain amount for your personal belongings. It is recommended to create an inventory of your personal items and estimate their value to ensure you have adequate insurance.

Certain high-value items, such as expensive jewelry or artwork, may have specific limits or require additional coverage, through scheduled property to provide adequate protection.