Coverage C is the part of a home insurance policy that protects personal property. Often, the limit of this coverage is automatically set to 70 percent of the limit on the dwelling. For example, if your home in Addison, TX is worth $300,000, then your Coverage C limit for personal property is probably $210,000. Every insurance policy, though, has other limits and exclusions listed in the policy’s Coverage C section. Here are some typical ones to look for.
Excluded Items that are Not Insured
There are a number of items that are specifically excluded from personal belongings, regardless of their value. Some common examples include:
- business data and equipment
- vehicles, boats and airplanes
- any tenant’s belongings, if the property is rented
Items that are Insured to a Certain Value
Some items are insured, but only up to a certain value. Each insurance company has different limits, but they all set limits on how much they will reimburse for the loss of jewelry, money, firearms and silverware, among other things. If your policy does not provide the full value of any of these belongings, riders are available to supplement your coverage.
Items Not at Home
The Schedule C section of your homeowners policy also provides coverage while you are away from your primary residence in Addison. While this coverage protects your belongings at someone else’s home, in a hotel room or at your ranch, the level of coverage is greatly diminished.
Complement Your Policy with Riders
Riders provide supplementary coverage for any items that are not fully insured by your Schedule C. Because these items are often highly valuable, it is best to purchase riders directly through an insurance agent, rather than online. Give one of our agents a call, so we can review your Schedule C and go over your belongings. If you need one, we are able to set you up with a rider.