We collect a lot of personal belongings as the years go by, and some of it may be worth more than a person may realize. You’ll want to ensure you have the right personal property insurance to help cover the property in case it gets lost, gets stolen, or is destroyed. It may also be difficult to decide how insurance covers your personal belongings. We’ll take a closer look at what personal property insurance is and how insured damages impact your policy.
Personal property insurance will protect items in your home such as furniture, clothes, or jewelry from losses like fire or theft. As the name suggests, covered losses are the hazards for which the insurance policy specifies that it will protect. The insurance company does not cover any risks not specified in the policy.
The most important factor in whether your insurance policy will protect your possessions is the way they are lost or damaged. When you buy insurance, it’s important to understand whether the policy is named or open. A named policy only covers damage to your products from anything explicitly specified in the policy. For example, if your wedding ring is stolen due to burglary, you’ll probably get compensation because your insurance mentions the burglary as a protected loss. However, if the ring is misplaced or not mentioned, it may not be protected.
This information is provided by Miami insurance lawyer Alonso & Perez, LLP. Our areas of practice include insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you. Para mas información sobre reclamo de seguro, por favor llamenos.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.