With homeowners insurance, your standard personal property coverage comes with limits to how much expensive valuables like jewelry, fine art, and electronics are covered. It’s also limited in the types of perils that are covered and where your belongings are covered. That’s where scheduled personal property coverage comes in.
Scheduled personal property coverage is an endorsement that you can add to your home insurance policy to raise coverage limits for high-value items to ensure all of your belongings are fully protected — no matter how or where they’re damaged.
What is scheduled personal property coverage?
Scheduled personal property coverage is supplemental protection you can add to your home insurance policy to increase coverage limits for your valuable belongings. A standard homeowners insurance policy limits coverage for certain types of personal property like jewelry, antiques, fine art, firearms, and other expensive items.
Here are common coverage sublimits for high-value items you’ll find on a standard home insurance policy without scheduled personal property coverage:
$2,000 to $2,500
$2,000 to $3,000
Silverware & goldware
Some policies also have limits on individual items. So even if your jewelry sublimit is $2,000, the maximum they’ll pay out for a single piece of jewelry may only be $500 or $1,000. In addition, standard home insurance policies typically have strict sublimits of around $500 for personal property that’s damaged or stolen away from your home.
This is why scheduled personal property coverage is so important: Your scheduled items are typically fully covered anywhere in the world.
What types of valuables are typically covered by scheduled personal property?
You can typically purchase a scheduled personal property endorsement for the following types of high-value belongings:
Cameras & electronics
Bikes, golf equipment, & other sporting equipment
Stamp, card, & coin collections
Silverware & goldware
How much does scheduled personal property coverage cost?
Scheduled personal property coverage costs around $100 per $10,000 in coverage annually for a single category, according to Policygenius data.
Coverage will generally be cheaper if you’re scheduling multiple items under a single category, than if you have one high-value item. So if you’re scheduling three rings that add up to $15,000 in coverage, expect a lower premium than if you scheduled a single necklace for that same coverage amount.
Let’s take a look at how much scheduled personal property coverage might cost you based on different high-value items you might want covered:
Scheduled personal property coverage limit
Annual coverage cost
Set of golf clubs
2 expensive cameras
3 pieces of artwork
Who needs scheduled personal property coverage?
If you own anything of value that exceeds the personal property coverage limits in your home insurance policy, you should look into a scheduled personal property endorsement.
So whether you own a nice road bike, antiques from your great-grandmother, or a sick set of golf clubs, you should consider scheduling an endorsement to your policy to make sure they’re protected for their full value.
Scheduled personal property coverage also covers a greater variety of loss. So if you accidentally lose your new Rolex watch or a plumbing leak ruins your expensive baseball card collection, a scheduled personal property endorsement would reimburse you up to the scheduled limit of those items.
What's the difference between scheduled property coverage and blanket insurance?
Scheduled personal property coverage lets you increase coverage limits for specific items you own, while blanket insurance increases coverage limits for whole categories of items you might own.
Here's a quick breakdown of the differences between scheduled property coverage and blanket insurance coverage.
Scheduled property coverage
Blanket insurance coverage
Increases coverage limits for one specific item
Increases coverage limits for an entire category of belongings
Example of covered belongings
Full jewelry collection
When it's best
If you have a few high-value belongings in different categories
If you have several expensive collections in different categories