In Pennsylvania, personal property on your homeowners insurance includes almost everything you own inside the house, such as furniture, clothing, electronics, and appliances. A good rule of thumb in the insurance industry is that if you took the roof off your house and turned it upside down, anything that falls out is considered your personal property.
How to Properly Protect Your Belongings in PA
- Replacement Cost vs. Actual Cash Value: Never settle for Actual Cash Value (ACV) on your personal property. ACV only pays what your used items are worth today (garage sale prices). You must ensure your policy includes “Replacement Cost” coverage so the insurance company pays to buy you brand-new versions of your ruined items.
- Off-Premises Coverage: Your personal property coverage follows you anywhere in the world. If your laptop is stolen out of your car while you are at the grocery store, or your luggage is lost on a European vacation, your homeowners insurance will typically cover the loss.
- Special Limits on High-Value Items: Standard policies place strict payout limits on easily stolen, high-value items like jewelry, firearms, cash, and fine art (often capping jewelry at just $1,500 total). If you own expensive items, you must specifically “schedule” them on your policy to guarantee they are fully covered.
What should you do next?
If you are reviewing your policy, make sure you aren’t overpaying or leaving yourself exposed. Check out the complete list of common questions at our Pennsylvania Home Insurance FAQs/pennsylvania-homeowners-insurance-faqs, or request a quick, no-pressure policy review to see if we can improve your coverage.