Scheduled Coverage for Valuables
Standard homeowners insurance policies are limited in their coverage of personal property. For example, a homeowners policy will typically set a dollar limit on how much it will pay for certain categories of valuables, e.g. jewelry, up to a predetermined sub-limit. This can often lead to claims for items of great value not being adequately covered in the event of a loss.
Scheduled Coverage is an optional add-on to your Homeowners Policy that increases the limits on specific high-value items, such as:
- Musical Instruments
- Coin Collections
Obtaining Scheduled Coverage is likely increase your premium; however, it may also provide for broader protections when it comes to definitions of a covered loss. Plus, when you have a claim on an item that's been scheduled, there is typically no deductible. This may differ from items that full under the safety net of personal property coverage on a standard policy.