Description of Coverages

Personal Property coverage is included in Homeowners Insurance, Renters Insurance, and Condo Insurance. What a lot of people do not understand is that some items have sublimits of insurance inside the policy and have to be specifically named and insured to have enough coverage. Not all, but most of the common Homeowners Insurance, Renters Insurance, and Condo Insurance policies have the following sublimits on theft of items:

• $250 money, coins and medals
• $1,000 Jewelry,Watches and Furs
• $2,500 guns and related equipment
• $1,000 Trading Cards/Comics

There are more sublimits for additional items that will vary by company.

Scheduled Personal Property (SPP), Special Personal Property, Personal Inland Marine, or Personal Articles Floater(PAF) is where you increase coverage for the items listed above and many more. This is an additional policy that insures specific items for a specific insured amount. These policies will typically require a bill of sale and appraisal within the last one to three years prior to the coverage date to determine the true value of that item

If you have any of the following items in your household, you may want to consider a  Scheduled Personal Property(SPP), Special Personal Property, Personal Inland Marine, or Personal Articles Floater(PAF).

• Jewelry
• Watches
• Furs
• Money
• Coins

• Medals
• Precious Metals
• Goldware or Silverware
• Guns
• Fine Art

• Tapestries
• Trading cards
• Comic Books
• Cell Phones
• CB Radios

There are too many of these to list, please reach out to us with any questions, we are ready to help.