HomeInsuranceTools

Personal Property Coverage Calculator

Work out whether the contents limit derived from your dwelling coverage is enough, and what needs scheduling separately.

Last reviewed

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Free · No sign-up · Runs in your browser

Personal property cover is usually set as a percentage of the dwelling limit rather than by asking what you own. It is a reasonable default and a poor answer for most households, because the derived figure is not connected to anything in the building.

The second problem is less visible. Even where the overall contents limit is generous, policies cap specific categories - jewellery, cash, firearms, collectibles, business property - at amounts far below it. Anything above those caps is effectively uninsured unless it is scheduled.

Your numbers

Results update as you type. Nothing is sent anywhere.

Result

Total contents cover recommended

$221,500

Cover that needs scheduling

$11,500

Derived contents limit
$210,000
High-value items
$14,000
Covered by special limits
$2,500
Uninsured if not scheduled
$11,500
Contents percentage used
50%

This is an estimate based on the values you entered. Actual premiums, coverage, eligibility and pricing vary by provider and by individual circumstances.

Policies cap certain categories - jewellery, cash, firearms, collectibles - well below the overall contents limit. Anything above those caps normally needs to be scheduled individually.

Build a room-by-room inventory with photos before you decide on a contents limit. Most households under-estimate by a wide margin.

How to use the personal property coverage calculator

  1. Enter your dwelling limit and the contents percentage your policy uses.
  2. Enter the total value of high-value items in the capped categories.
  3. Enter the combined special limit your policy applies to those categories.
  4. Read the coverage that would need to be scheduled separately.

What people use this for

  • Checking whether jewellery, watches or collectibles are actually covered.
  • Deciding whether to endorse the contents percentage upward.
  • Preparing for a conversation about scheduling specific items.
  • Reviewing coverage after inheriting or buying something valuable.

Worked examples

Every figure below is produced by running this calculator against the example inputs, so the numbers always match the tool.

Jewellery above the special limit

A $420,000 dwelling limit at 50% contents, with $14,000 of jewellery against a combined $2,500 special limit.

Total contents cover recommended
$221,500
Cover that needs scheduling
$11,500
Derived contents limit
$210,000

Nothing above the caps

The same policy for a household with $1,800 of items in the capped categories.

Cover that needs scheduling
$0
Derived contents limit
$210,000

Special limits are the real gap

A policy with a $210,000 contents limit may still cap jewellery at $1,500 for theft, cash at $200, and firearms at $2,500. These caps apply per policy period, not per item, and they are usually the first thing a claimant discovers after a burglary.

Scheduling - listing an item individually with its own limit - removes the cap for that item, and usually removes the deductible on it too. It requires a valuation or a receipt, and it costs a premium proportional to the value.

Replacement cost versus actual cash value on contents

Contents cover comes in two forms. Actual cash value pays what the item was worth at the time of loss, after depreciation - a five-year-old sofa settles at five-year-old sofa money. Replacement cost pays what an equivalent new item costs.

The difference on a full contents claim is substantial, often forty percent or more. Replacement cost contents cover is an endorsement on many policies rather than the default, and it is one of the most worthwhile ones.

Methodology and assumptions

What this calculator does, and what it deliberately does not do.

  • The standard contents limit is the dwelling limit multiplied by the percentage you entered.
  • The schedule requirement is the value of high-value items above the combined special limit you entered.
  • The calculation cannot know your policy wording. Check the special limits section of your own declarations page for the categories and caps that apply.
  • All figures are estimates produced from the values you enter. This site has no rate feed and no carrier data, so it cannot quote or price a policy.
  • Nothing you type is transmitted or stored - the calculation runs entirely inside your browser.

This calculator provides an estimate based on the information you enter. Actual insurance premiums, coverage, eligibility and pricing vary by provider and individual circumstances.

This website is not an insurance company, an insurance agency or a licensed broker. It does not sell insurance, does not provide insurance quotes, and is not authorised to give advice about which policy you should buy.

No result produced here is an offer of insurance or a guarantee of coverage. Only a licensed insurer or agent, working from your verified details, can quote or bind a policy.

Frequently asked questions

How do I know what my contents are worth?

A room-by-room inventory with photographs, ideally stored outside the house or in cloud storage. Almost everyone under-estimates by a wide margin until they do this.

What is scheduling an item?

Listing a specific item on the policy with its own agreed limit, usually supported by a valuation. It removes the category cap and typically the deductible for that item.

Are my contents covered away from home?

Usually partially - many policies cover personal property anywhere in the world but at a reduced percentage of the contents limit. Check the off-premises provision.

Does contents cover apply to a home business?

Rarely, and only up to a very low limit. Business property and business liability generally need a separate policy or endorsement.

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