Your Florida home insurance policy includes protection for your personal property (also known as Coverage C), except for property specifically limited or excluded. If you get a new TV, computer, or fancy jewelry, it’s a good idea to check with your insurance agent to adjust your Coverage C limit.

Tip: Keep a running inventory of your belongings and their worth, so you can ensure that you’re not over- or underpaying for your contents coverage.

How Much Insurance Coverage Do You Need?

Most Florida home insurance companies arbitrarily set a policy’s Coverage C amount as a percentage of the policy’s dwelling (Coverage A) amount. In addition to only paying for the coverage you need, using an online evaluation tool can help you calculate a contents coverage estimate that is specific to your household. The best home inventory tools can be accessed 24/7 from any location, allowing you to update you list on-the-go makes it easy for you to provide an accurate list of your possessions to your insurance company in the event of a claim.

What Is Replacement Cost Coverage?

Do you know whether your Florida home insurance policy provides you with replacement cost or actual cash coverage for your contents? There is a big difference between the two. If you’re not sure, it is important to check with your agent or review your policy as soon as possible. Optional replacement cost coverage for your personal property allows you to replace or repair items that were damaged or destroyed based on current market prices. Without this coverage, your items will be valued at actual cash value (ACV), which is generally less than the cost of a brand new item. ACV is more like the price you'd see at a garage sale. We recommend purchasing replacement cost coverage for your belongings.

Additional Coverages

Your base policy may limit, or not include, coverage for some high value items such as jewelry, antiques, and firearms. If you have valuables, ask your agent about obtaining additional coverage for those items

Be sure to update your contents coverage so all your new belongings are covered and check your Florida home insurance policy for limits or restrictions.

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