Homeowners policies automatically provide coverage for which type of personal property?

Homeowners policies are designed to provide comprehensive coverage for personal property owned by the insured. This coverage includes various types of personal belongings that a homeowner typically has within their residence. Contents owned by the insured refer to items such as furniture, clothing, appliances, and other personal items necessary for everyday living. The policy generally covers these items against specified perils like fire, theft, vandalism, and certain natural disasters.

In contrast, the other categories like jewelry, securities, and business property often come with limited coverage or specific exclusions under the homeowners policy. For instance, jewelry may have a lower limit on the amount covered unless specifically scheduled for additional coverage. Likewise, securities are not typically included and require separate endorsements or policies to protect their value. Business property might not be covered at all, as homeowners policies usually exclude items used for business purposes unless specified otherwise. This distinction is crucial for understanding how homeowners insurance operates and the importance of knowing what is automatically covered versus what may require additional coverage.