Home, Condo & Renters Insurance: Belongings, Break-Ins & Beyond
Home, condo, and renters insurance are essential safeguards for where you live.
Whether you own a home, live in a condo, or rent an apartment or house, these policies can protect your belongings against a variety of losses or damage-causing scenarios – including theft and vandalism.
Let’s dive into key aspects of these coverage so you can make informed decisions and stay well-protected.
Worth noting: Most standard home, condo, or renters insurance policies include theft coverage for personal property. A DP-3 policy is the exception because theft coverage is excluded from the base form – but a limited theft endorsement can be added to the DP-3.
Your Association’s or Landlord’s Policy Won’t Help Your Belongings
Depending on the circumstances, your homeowners/condo association or landlord may carry insurance on the building in which you live. In the event a fire, lightning strike, hurricane, or other disaster damages the building and its contents, you could lose all you own inside – unless you have your own policy. A landlord or HOA/condo association policy may cover the structure (walls, roof, windows) while your personal contents remain uncovered unless protected by your own home, condo, or renters policy. This distinction matters when evaluating home insurance theft coverage in Florida for your situation.
Belongings Covered by Your Policy
Personal property coverage under home (HO-3), condo (HO-6), and renters (HO-4) policies can cover many types of belongings, including:
- Money
- Jewelry and watches
- Firearms
- Furniture
- Clothing
- Electronics (e.g., cellphones, laptops, TVs, stereos)
- Sports equipment
- Books, movies, and other media
- Kitchenware and small appliances
- Tools and gardening equipment
Your vehicle, any pets you own, as well as the personal property of roommates or other household members not listed as insureds are NOT covered by your policy.
Your personal property is usually covered at actual cash value, which takes into account property age and condition when calculating a payout after a covered loss. You can opt for replacement cost, which doesn’t subtract depreciation – a common upgrade with home insurance theft coverage in Florida.
It’s More Affordable Than You Think
Coverage for your belongings is surprisingly affordable, considering what your premium gets you. Your cost depends on the coverage types and limits you select, where you live, and other factors, such as your credit-based insurance scores and claims history.
You can also choose a higher deductible to lower your premium. By taking on more financial responsibility in the event of a claim, you reduce the insurer’s risk, which can lower your cost. Review coverage amounts, deductibles, and personal circumstances each year with your insurance agent to keep everything aligned. In many cases, home insurance theft coverage in Florida is a small price to pay for the protection and peace of mind it delivers.
Protects Against Theft & So Much More
The following risks (called “perils” in your insurance policy) are typically covered by standard home, condo, and renters policies:
- Theft, including when it occurs off-premises
- Vandalism or malicious mischief
- Fire and smoke damage
- Lightning
- Windstorm, hail, hurricane
- Falling objects
- And more – check your policy or ask your agent
Off-premises theft: Many policies also cover personal property theft outside the home, such as items stolen from your car (the items, not the car), hotel room, or even an off-site storage facility. This extends the value of home insurance theft coverage in Florida beyond the four walls of your home, condo, or rental.
Not covered: Intentional acts, existing damage, neglect, and defective breakdown of personal property are not covered. And flooding is never covered by a standard homeowners, condo, or renters policy. Flood insurance is a separate policy. Even if your insurer doesn’t offer it, you can purchase flood coverage from FEMA’s National Flood Insurance Program (NFIP).
Plenty of Customizable Options
You can tailor home insurance theft coverage in Florida with options such as:
- Personal property replacement cost
- Increased limits for high-value items or categories (e.g., jewelry, watches, silverware, firearms)
- Increased limits for damage caused by certain risks (e.g., mold, sinkholes, association assessments)
- Home office coverage
- Identity theft protection
- Animal liability (for dog-bite incidents, for example)
- Equipment breakdown coverage
- Water backup coverage
Note: DP-3 policies generally exclude theft in the base form; ask your agent about a limited theft endorsement if you insure a rental home with a DP-3 and want home insurance theft coverage in Florida for contents you own in the home.
Inventory Your Belongings
No review of these policies is complete without stressing the importance of a home inventory. Photograph rooms, save receipts, and record serial numbers where possible. Doing so simplifies the claims process and helps ensure you're fully compensated after a loss. A current inventory also makes it easier to set the right limits for home insurance theft coverage in Florida.
Florida Peninsula Insurance Company Has You Covered
At Florida Peninsula Insurance Company, we’ve seen the challenges and financial strain unexpected disasters bring – especially in hurricane-prone Florida. We strongly recommend carrying enough coverage to rebuilt your life quickly after a loss. With the right home, condo, or renters policy, your personal belongings are protected – plus, you gain important liability protections and more.
If you already have coverage, review what’s included under your policy with your agent, since each policy can differ. Contact your Florida Peninsula agent now to discuss your policy – or, if you’re currently uninsured, get your quote online. For DP-3 policies, ask about adding a theft endorsement so your contents can benefit from home insurance theft coverage in Florida.