What Is Personal Property On Homeowners Insurance? 
Personal property is physical property that is either owned by you or in your care . The basic coverage is for this property that is located in the covered residence . There is often an extension of this coverage when the property is away from your residence but there is also an internal limit on coverage -LRB- 10 % is common . -RRB- Your policy puts limitations on certain property such as money , securities , jewelry , silverware , and guns . Coverage for business related property stored at your residence is also limited . There is also personal property that isnt covered such as animals , trees , cred cards etc. . 