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Two ways to insure your personal belongings:

1-REPLACEMENT COST COVERAGE - Insurance that pays the dollar amount needed to replace damaged personal property with items of like kind or quality without deduction for depreciation.

2-ACTUAL CASH VALUE - Insurance under which the policyholder receives an amount equal to the replacement value of damaged property minus depreciation. Unless a homeowners policy specifies that property is covered for its replacement value, the coverage is for actual cash value.

Here are a few other things to keep in mind when your are insuring your stuff:

1.Check the limits on personal items, such as jewelry, silverware, furs and computer equipment. If the limits are too low, consider buying a special personal property "endorsement" or "floater." An endorsement is an addition to your policy. A floater is a form of insurance that allows you to insure valuable items separately.

2.Make an inventory of everything you own in your home and in other buildings on the property, except your car which must be insured separately. Write down the major items you own along with all available information:

a.serial number

b.make and/or model number

c.purchase prices

d.present value

e.date of purchase

Don't forget to include indoor and outdoor furniture, appliances, stereos, computers and other electronic equipment, hobby materials and recreational equipment, china, linens, silverware and kitchen equipment, jewelry and clothing.

3.Take either still or video pictures of these items. Attach receipts to the inventory when available. Store the inventory and visual records away from your home - perhaps in a safe deposit box.

4.Add major purchases to the inventory and visual record soon after the purchase.