What personal property coverage covers
Personal property coverage — Coverage C on the declarations page — pays to repair or replace the things you own inside the home: furniture, clothing, electronics, kitchenware, tools, sports equipment, and most everyday belongings. The limit is usually 50% to 70% of Coverage A by default, though many carriers allow it to be raised.
Coverage C follows the homeowner, not just the address. Belongings stolen from a hotel room, a college dorm, or a car are typically covered (usually at a reduced limit, often 10% of Coverage C, when off-premises).
Why category sublimits matter more than the total limit
Even with $150,000 of Coverage C, most homeowners discover at claim time that high-value categories have low sublimits. The sublimits below are the standard ISO HO-3 caps. Many carriers match them; some are stricter.
| Category | Standard sublimit | What this means in practice |
|---|---|---|
| Cash, bank notes, coins (collection) | $200 | Cash on hand is essentially uncovered |
| Securities, deeds, manuscripts | $1,500 | Includes stamps, tickets, gift cards |
| Watercraft, trailers, equipment | $1,500 | Most boats need a separate policy |
| Jewelry, watches, furs (theft) | $1,500 | One wedding ring often exceeds this cap |
| Firearms (theft) | $2,500 | A small collection exceeds the cap fast |
| Silverware, goldware, pewterware (theft) | $2,500 | Heirloom flatware is commonly under-covered |
| Business property on premises | $2,500 | Home-office equipment past this needs an endorsement |
| Business property off premises | $500 | Laptops used for work are often capped here |
| Electronic data and media | $1,500 | Lost photos, files, software |
| Trading cards, comic books, collectibles | $1,000 to $2,500 | Carrier-specific; verify in writing |
The sublimit applies inside Coverage C, not in addition to it. A homeowner with $150,000 of personal property coverage who loses $40,000 in jewelry to theft still receives only $1,500 unless a scheduled-property endorsement is in place.
Replacement cost vs. actual cash value on contents
Contents settle on one of two bases:
- Replacement Cost (RC): Pays what it costs to buy a new equivalent item today. A 10-year-old TV is replaced with a comparable new one.
- Actual Cash Value (ACV): Pays replacement cost minus depreciation. A 10-year-old TV worth $1,200 new might settle for $200.
RC on contents is one of the highest-value, lowest-cost endorsements a homeowner can buy — often $25 to $75 per year for a five-figure improvement at claim time.
Scheduled personal property: when to use it
For items that exceed the sublimits, a scheduled personal property endorsement (also called a personal articles floater) lists each item with its appraised value. Scheduled items are covered for the full appraised amount, with no deductible on most carriers, and against broader perils (including mysterious disappearance for jewelry). Common items to schedule:
- Engagement rings and high-value jewelry
- Firearm collections above $2,500
- Cameras and professional photography equipment
- Musical instruments above $1,500
- Fine art, antiques, rugs above the per-item carrier limit
- Coin, stamp, and trading-card collections
The home inventory: what makes a claim go well or badly
After a fire or theft, the homeowner must prove what was lost and what it was worth. Adjusters do not credit lists without supporting evidence. A strong inventory includes:
- Photo or video of every room, every closet, every drawer
- Receipts or model numbers for items above a few hundred dollars
- Appraisals for jewelry, art, and collectibles updated every 3 to 5 years
- A cloud-stored backup so the inventory survives the loss itself
How Agents can help
Agents pull Coverage C limits and the sublimit schedule from the declarations page, identify high-value categories that exceed the caps, and quote scheduled-property endorsements or stand-alone policies (most often through Chubb, AIG, or PURE for high-value items) when appropriate. Agents also confirm whether Coverage C is on a replacement-cost or actual cash value basis — a single endorsement that frequently saves homeowners tens of thousands at claim time.