In the event of a disaster, homeowners insurance will pay the agreed amount to rebuild or repair the home. But what about the things inside the home? Anything in your closet that isn’t jewelry or fur is considered general personal property.
But general personal property also includes all of your clients’ furniture, appliances, electronics, kitchenware, kids’ toys, and everyone else’s closet, too. Since carriers determine the percentage of the homeowner’s policy that becomes the general personal property amount, it’s very important to make sure the limit on your policy is enough to repurchase everything that might be lost after a disaster.
Do any of your clients have a Birkin bag? What about five $300 bags or an extensive shoe collection? When clients stop to evaluate the price tag on their items, they often discover that what they’ll get in a general personal property payout isn’t enough to replace everything that could be lost.
Let Brunswick Companies review your client’s policy to see how we can best protect the world they love and everything in it.