Special Personal Property Coverage Explained

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When you sign up for homeowners insurance, it’s critical that you actually know what’s protected under your policy.
One type of coverage that often confuses people on their homeowners insurance is special personal property coverage. Special personal property coverage may be a bit of a mouthful, but it’s a very important element of many homeowners insurance policies. So, if you’re purchasing homeowners insurance, read on to learn about special personal property coverage.

What is special personal property coverage?

Special personal property coverage protects the personal items from your home in every event except those which are specifically listed on your policy. Basically, instead of having a short list of occasions where your items are protected, you have a short list of occasions where your items aren’t protected, such as in the event of a flood or an earthquake (two common exclusions on a special personal property coverage policy).
Because of that, special personal property coverage ends up protecting your personal items in almost every foreseeable scenario.

What is the difference between special personal property coverage and regular personal property coverage?

Most homeowners insurance plans include standard personal property coverage, which, as the name suggests, covers your personal property. This can be anything from your TV and laptop to your wedding ring to the art on your walls.
With a standard personal property coverage policy, your personal items are covered only under specific circumstances. For instance, regular personal property coverage usually provides insurance for your items if they are stolen, or if there’s a fire that damages your home.
Special personal property coverage provides more comprehensive coverage of your personal items, by instead covering them for all but a small handful of excluded events (and even those exclusions can sometimes be negotiated or personalized).
While special personal property coverage is much more comprehensive than standard personal property coverage, it’s worth mentioning that standard personal property coverage does provide insurance for many of the most common reasons that your personal property might be damaged or lost.

What is an example of special personal property coverage?

The most common example of what special personal property coverage protects comes in the form of damage caused by you. Let’s say you spill a cup of coffee on your laptop. That would not be covered under a standard personal property coverage plan, because it’s your fault rather than something outside of your control. But under most special personal property coverage plans, even an issue you’re at fault for is covered, and you would have your laptop replaced.
You can see in that example why a lot of people are more comfortable having special personal property coverage. It can provide a lot of peace and mind knowing that your valuable items are protected under almost any cause of damage.

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