Scheduled Personal Property
Plain English
Scheduling means listing a valuable item, like an engagement ring or a painting, on your policy for its appraised value. It usually covers more than the standard policy: the full listed value instead of a low category cap, and often losses like a ring that simply goes missing, sometimes with no deductible.
Read to the end to complete this term.
On this page
Definition
Scheduled personal property is coverage for specific, listed valuables, such as jewelry, art or instruments, added to a homeowners or renters policy by endorsement or bought as a floater, each insured for its appraised value. It generally removes the policy's special limits for those items and often covers losses a standard policy doesn't, such as mysterious disappearance.
Why It Matters
Standard policies cap categories like jewelry at a low amount. Scheduling is the usual way to insure a valuable item for what it's worth.
Real-World Example
Imagine a ring appraised at $9,000, under a policy with a $1,500 jewelry theft limit. Unscheduled, a theft would pay at most $1,500. Scheduled at $9,000, a theft, or a loss where the ring slips off and isn't found, could generally be covered up to $9,000 under the endorsement's terms.
Common Misconceptions
- Scheduling an item at its purchase price without a current appraisal.
- Assuming scheduled items have the same deductible as the rest of the policy.
Key Takeaways
- The Insurance Information Institute: to insure valuables "to their full value, purchase a special personal property endorsement or floater and insure the item for its officially appraised value."
- Scheduled coverage generally includes "mysterious disappearance," per the Institute, and floaters and endorsements often carry no deductibles.
- The Texas Department of Insurance lists jewelry, fine arts and electronics among common endorsements.
- Keep the appraisal and update it periodically.
Frequently Asked Questions
What can be scheduled?
Commonly jewelry, watches, art, instruments, cameras and collectibles. Insurers set their own rules.
What's it commonly confused with?
Raising a category limit, which increases the cap for all jewelry, for example, without listing items individually.
Related Terms
Related Coverages
- Homeowners Insurance
- Renters Insurance
Explore the rest of the Homeowners Insurance category.
Browse Homeowners Insurance terms →Sources
The factual claims on this page were checked against these sources. Rules and figures change, so check the source itself if you need to confirm the current version.
Educational information, not advice: This page is for general education only, not legal, financial, or insurance advice. Actual coverage, discounts, and requirements depend on your policy’s wording, your insurer, and the laws of your state. Confirm specifics with your own insurer or a licensed agent before making a decision. Insurpedia does not sell insurance and does not recommend specific insurers.