Scheduled personal property coverage is an optional endorsement you can use when the personal items exceed the personal property limits on a standard home policy. This of course leads to the common question “What personal items are limited on my home policy and do I have enough coverage?”

Right now for a lot of people with home insurance the answer is a “a lot of them” and “probably not” Standard home insurance set limits on how much the insurance company will pay out for specific types of property under “coverage C” in your policy. Below are a few of the things we generally see limited…

• Jewelry/Watches
• Small watercraft
• Firearms/Guns
• Stamps
• Coins
• Comics & or Sports Memorabilia
• Silver Collections & sets
• Musical Instruments
• Electronics

It’s not difficult to schedule items but you may need to do a little legwork in getting an appraisal or making an inventory list with values per item. Learn more about our home insurance options and carriers here. Or call your agent and ask!

Some of the main benefits we see among companies with scheduling are listed below…

• All Peril Coverage If you were to wake up one morning and your wedding ring was missing from your finger would you think to call your agent? You should because with all peril coverage and scheduling your items you may be covered for a “Mysterious Disappearance” claim.
• No Deductible You can choose the deductible for each item separate from the home deductible including $0
• Replacement Cost The biggest benefit and reason for our blog post is to actually get the accurate value for your items in the event of a claim.  An example I like to use is if you are an avid comic collector and due to a claim you lose part of your collection, under standard home policy they will only reimburse you for a comic book at comic book prices today because the vintage value is typically not factored in.

In a few weeks there will be an in depth post about insuring your firearms and hunting gear properly for on and off the property.  Stay tuned!