Do I Need Personal Property Insurance Coverage in Vero Beach Florida?

Yes, the items you own are known as your personal property and you need covearge! These items often include all the items that you own other than your home and your vehicles. Of course, those are your possessions too, but when it comes to insurance they fall into a different category.  Personal property coverage in Vero Beach Florida is insurance protection that covers the replacement value or repair value to your belongings. Before you get this kind of insurance, you need to know what it entails and if it is right for you.

In general, your Vero Beach homeowners insurance will only cover the cost of replacement or repair for damage to your home, and not the items within the home. This is when you need to consider personal property insurance coverage. Before you go and get this kind of coverage, make sure you carefully read your homeowners insurance policy to ensure that it does not cover the possessions within the home.

If your Florida homeowners insurance doesn't cover your belongings, you need to consider what the value of the items would be and what it would cost to replace or repair them in the event that something happened to them. This kind of insurance often covers against theft, fire, flood damage, and vandalism. If you don't put a numerical value to each individual piece, you need to consider a final price for everything. To do this, consider the condition that each item is in. Often, insurance policies will only cover up to current value. Otherwise, you will need to make a list of all the items you have and what the value is. Don't forget to account for depreciation for everyday items, like furniture, which often don't get fully covered as if they were new pieces. Be sure to get accurate numbers for collectibles, antiques and other potentially high value items.

Now that you have your list and a general idea of the value of the items, you need to consider how much coverage you want to get for these items. You don't want to get coverage that is less than the value of what you may need to replace. For example, if you own $20,000 in personal items, you wouldn't want to get coverage for only $10,000.

If you want to get this kind of insurance in Florida, you should also consider the value of property in buildings that aren't attached to the home and that may not be covered with another structure policy. These items can include tools in a shed, lawn equipment, landscaping (such as statues and topiary), and more. It is best to look into all policies to see what you can cover in current ones you may hold before you get a second policy. Some things, like landscaping, may be included in homeowners coverage. It is best to talk to an agent for a breakdown of each item and what can be covered with that type of insurance.