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Personal property is a standard coverage on a homeowners insurance policy. It covers belongings like furniture and clothing, paying up to a certain limit if they are stolen or damaged by a covered ...
Key takeaways. Homeowners insurance offers financial protection if your property is damaged by a covered peril. Home insurance usually covers your home's physical structure, other structures on ...
Personal property coverage: This coverage makes up a large portion of your homeowners insurance and is designed to replace your home’s contents after a covered peril, including clothing ...
In the United States, most home buyers borrow money in the form of a mortgage loan, and the mortgage lender often requires that the buyer purchase homeowner's insurance as a condition of the loan, in order to protect the bank if the home is destroyed. Anyone with an insurable interest in the property should be listed on the policy.
The most common type of homeowners insurance is the HO-3 Special Form policy, which covers your home, your personal property, liability, additional living expenses and medical payments.
Coverage C of your home insurance policy provides financial protection for your personal property. Your personal property could be covered on an open-peril basis or a named-peril basis.
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