What Makes a House a Home? Your Personal Belongings
Your home is more than just walls and a roof—it’s where you keep your most treasured possessions. From furniture and electronics to clothing and keepsakes, the items inside your home represent both financial investment and sentimental value.
At Benton White Insurance, we understand that Middle Tennessee homeowners need comprehensive protection for everything they own. That’s why we’re highlighting the importance of personal property coverage (also known as Coverage C) in your homeowners insurance policy.
What Does Personal Property Coverage Protect?
Personal property coverage is designed to protect the belongings you keep both inside and outside your home. If your possessions are damaged or destroyed by covered perils like:
- Fire or smoke damage
- Theft or vandalism
- Storm damage
- Water damage from plumbing issues
- And other specified events
Your policy can help replace these items so you can recover financially after a loss. This coverage extends beyond your home’s walls—it typically protects your belongings wherever they are, including items stored in your car or taken with you while traveling.
Understanding Your Coverage Limits
Every homeowners insurance policy has specific limits for personal property coverage. Typically, these limits are set as a percentage of your dwelling coverage (the insurance that protects your home’s structure). For many standard policies, personal property coverage is set at 50-70% of your dwelling coverage.
For example, if your home is insured for $300,000, your personal property coverage might range from $150,000 to $210,000. However, this may not be enough to cover everything you own, especially if you have high-value items.
Creating a Home Inventory: The Smart Approach
One of the most important steps in properly protecting your belongings is knowing what you have. Creating a comprehensive home inventory helps ensure you have adequate coverage and simplifies the claims process if you ever need to file one.
Here’s how to create an effective home inventory:
- Go room by room – Document everything from major furniture to small electronics
- Take photos or videos of your belongings
- Save receipts for major purchases
- Note model numbers, serial numbers, and descriptions of valuable items
- Use digital tools like home inventory apps to keep records organized
- Store your inventory in a secure location – consider cloud storage or a safe deposit box
Having this information readily available will be invaluable if you ever need to file a claim.
Actual Cash Value vs. Replacement Cost Value
When it comes to personal property coverage, there are two primary reimbursement methods:
Actual Cash Value (ACV)
With ACV coverage, your insurer will pay what your items are worth today, accounting for depreciation. For example, if your five-year-old television is damaged in a covered event, you’ll receive payment for what a five-year-old TV is worth now—not what you originally paid or what a new one costs.
Replacement Cost Value (RCV)
RCV coverage pays to replace your damaged items with new ones of similar type and quality, without deducting for depreciation. While this coverage typically costs more, it provides significantly better protection and can save you thousands of dollars after a loss.
At Benton White Insurance, we strongly recommend replacement cost coverage for Middle Tennessee homeowners to ensure you can fully recover after a loss without significant out-of-pocket expenses.
Special Considerations for High-Value Items
Standard personal property coverage often has sub-limits for certain categories of valuables, such as:
- Jewelry and watches
- Fine art and collectibles
- Silverware and china
- Electronics and computers
- Musical instruments
- Sports equipment
If you own valuable items in these categories, consider scheduled personal property endorsements (also called “floaters”) to ensure they’re fully protected. These add-ons provide higher coverage limits and broader protection for specific items.
Filing a Personal Property Claim
If you experience a loss, follow these steps to file a personal property claim:
- Contact Benton White Insurance immediately – our team can guide you through the process
- Document the damage with photos and videos
- Make a list of damaged items using your home inventory
- Gather any receipts or proof of ownership
- Keep damaged items until the claim is resolved (unless they pose a safety hazard)
- Work with your claims adjuster to ensure a fair settlement
Why Middle Tennessee Homeowners Need Strong Personal Property Coverage
Middle Tennessee experiences various weather events, from severe thunderstorms to tornadoes, that can damage homes and personal property. Additionally, theft and other perils can happen anywhere. Having robust personal property coverage provides peace of mind knowing your belongings are protected.
Beyond just replacing items, comprehensive coverage helps you recover more quickly after a loss, allowing you to focus on what matters most—rebuilding your life.
Get Expert Advice from Benton White Insurance
Every homeowner’s situation is unique. At Benton White Insurance, we take the time to understand your specific needs and help you find the right coverage for your belongings.
Our local Middle Tennessee insurance experts can help you:
- Determine appropriate coverage limits
- Choose between ACV and RCV coverage
- Identify items that may need scheduled coverage
- Find discounts to keep your premium affordable
If you have any questions about the insurance on your home and want to make sure you understand your coverage, you can call us at any time. At Benton White Insurance, we ask that you call us BEFORE you file a claim. We can save you money and time. – almost every time. We can help you cut through all of that.
THANK YOU for your trust in what we do. We’re here to help. Let us help you if you have a claim. We will make it much easier on you for sure.
TEXT or CALL us at 615.377.1212 or EMAIL us at info@BentonWhite.com. Also, on our website – BentonWhite.com, you can get more claim information and file a claim from the site. Let us know how we can help you as we ‘earn’ your business!
This information is provided to help you understand personal property insurance. Coverage is subject to the terms of your specific policy. Please refer to your policy documents for complete coverage details.
