Coverage limits. Typically, personal property coverage in a homeowners policy defaults to a percentage — usually 50% to 70% — of the dwelling coverage amount. So, for example, if you choose dwelling coverage of $200,000, with a personal property cap of 50 percent, your limit on property losses would be $100,000.

But high-cost belongings — things like jewelry, art, guns, electronics or collections (for example, a cellar of wine) — often carry a reimbursement sub-limit, meaning they’re covered only up to a certain amount. Jewelry, for instance, may have a sub-limit of $2,000. Often, extra personal property coverage — sometimes called a floater, an endorsement or scheduled coverage — is available for select items at an extra cost.

Replacement cost vs. actual cash value. How much reimbursement your insurer will pay on a stolen item will depend on whether you chose replacement cost coverage or actual cash value coverage for your policy.

For example, if your computer is stolen, replacement cost coverage can cover the cost of buying a new, equivalent computer. Actual cash value coverage, on the other hand, takes into account the age of the stolen item and reimburses you for replacement value minus depreciation. So if your computer is three years old when it’s stolen, your coverage would be limited to its actual cash value at that time. The Insurance Information Institute notes that replacement cost coverage typically costs about 10% more than actual cash value coverage.

Deductible. Your policy likely has a deductible, and if the cost of your stolen property is less than your deductible, then you’ll need to pay to replace the item yourself.

Homeowners insurance covers many of your possessions if they’re stolen, but there are cases when coverage may not apply. Some examples include:

• Vehicles. Items stolen from your car, say a backpack or laptop, often are covered by home insurance. But if built-in features like a sound system are ripped off, or personal property usually kept in the car is taken, for example tools or sporting equipment, your home insurance may not cover it. If your car itself is stolen, homeowners policies typically do not cover it. But comprehensive auto insurance could provide coverage.
    
• Boats or watercraft. Home insurance typically pays very little if your boat or other watercraft is stolen (usually around $1,000). Boat insurance is available, though. 
  
  
• Expensive collections. If you collect valuable items, say jewelry or art, you may be covered only up to a certain preset limit. Extra insurance is usually available.   
  
  
• Cash. Policies vary; usually only a small amount (a few hundred dollars) can be reimbursed under a homeowners insurance claim.  
  
  
• Vacant home. Homeowners insurance policies may not cover theft if the home is not occupied for a certain period of time (generally a month or two). Separate vacant home insurance is sold.