What Does Personal Property Mean?

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What does Personal Property mean? Read on to discover the definition & meaning of the term Personal Property - to help you better understand the language used in insurance policies.

Personal Property

Personal Property

Personal property refers to movable assets owned by an individual or a business. It is distinct in that it is intended for personal use, must be movable, and must have been gained in a socially appropriate manner. Property insurance offers coverage for personal property, and optional scheduled property or floaters can provide extra coverage for high value items.

We hope the you have a better understanding of the meaning of Personal Property.

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