Why should you consider buying property insurance in Cleveland OH?

Personal property insurance, also called "contents insurance," compensates you in the case that your belongings within the home (whether you own or rent) get damaged, destroyed, lost or stolen.

Personal property insurance in Cleveland OH covers the elements of your home, your personal possessions. Do you really need personal property insurance? To scan out, get a camera or smart phone and begin walking through your home, room by room, opening closets and drawers, and snapping pictures of everything that is not nailed down:

·         Furniture

·         Clothing

·         Appliances

·         Stereos

·         Televisions

·         Computers

·         Artwork

·         Rugs, window treatments and other décor

·         Dishes

·         Wine and spirits

·         Sporting goods and toys

As you take this visual check, imagine what it would cost if everything was lost in a flood or fire--could you afford to replace what's most important to you? If not, you might need personal property insurance in Cleveland, OH. 

The cost to insure your personal property is encompassed in your homeowner’s insurance rate. There is not a different charge to cover the items in your home, unless you decide to buy extra defense for high-value items you own. Your home insurance company utilizes the amount of coverage you have for your house to determine how much personal property insurance to provide. It is usually a percentage of the building coverage amount.

If you own your house, your Home and Property Insurance policy includes coverage for personal property--typically totaling 40 to 75 percent of the insured value of the building (note that your building coverage is not related to its market value; it's based on rebuilding costs).