Personal Property Insurance

PotlogiThe amount of home insurance you have is usually a straight percentage of the amount of coverage you have on your home’s structure which is usually around 60%.

If your home is insured for $250,000 for instance, the coverage for your stuff is around $150,000. For many years, insurers have calculated coverage this way and the problem is it just doesn’t make any sense.

“There’s no correlation between the contents coverage required by a household and the building coverage” said James Fini, the founder and vice president of research and development at Enservio in Needham, Massachusetts. “You’d think an industry that is so dependent on data … would have a better way of doing it”, he added.

In order to come up with the accurate calculations, companies have provided their clients with software. This tool will help the property insurers settle and pay content claims as well as get their stuff back.

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