https://www.insurerbrain.com/w/index.php?action=history&feed=atom&title=Definition%3AScheduled_personal_property 2026-05-02T17:01:56Z Revision history for this page on the wiki MediaWiki 1.43.8 https://www.insurerbrain.com/w/index.php?title=Definition:Scheduled_personal_property&diff=8222&oldid=prev 2026-03-10T13:51:25Z

<p>Bot: Creating new article from JSON</p> <p><b>New page</b></p><div>💎 &#039;&#039;&#039;Scheduled personal property&#039;&#039;&#039; is a provision within a [[Definition:Homeowners insurance | homeowners]] or [[Definition:Renters insurance | renters]] [[Definition:Insurance policy | insurance policy]] — or a standalone [[Definition:Endorsement | endorsement]] — that provides itemized, specifically listed coverage for high-value personal possessions such as jewelry, fine art, musical instruments, furs, silverware, or collectibles. Standard [[Definition:Personal property | personal property]] coverage under a [[Definition:Homeowners insurance | homeowners policy]] typically imposes [[Definition:Sublimit | sublimits]] on certain categories of valuables (for example, a $1,500 cap on jewelry theft losses), and scheduling these items removes those caps by individually identifying and insuring each piece for an agreed-upon value.<br /> <br /> 📝 To schedule an item, the [[Definition:Insured | insured]] provides a detailed description and a current [[Definition:Appraisal | appraisal]] or receipt establishing its value. The [[Definition:Underwriter | underwriter]] then adds the item to a schedule — essentially a list attached to the [[Definition:Policy | policy]] — and charges an additional [[Definition:Premium | premium]] that reflects the item&#039;s value, type, and the applicable [[Definition:Peril | perils]] covered. Coverage is typically written on an [[Definition:All-risk coverage | all-risk]] (open perils) basis, which is broader than the [[Definition:Named perils | named-perils]] protection afforded to unscheduled personal property, and often with no [[Definition:Deductible | deductible]] or a very low one. In the event of a [[Definition:Insurance claim | claim]], the agreed-upon scheduled value streamlines settlement because both parties have already established what the item is worth.<br /> <br /> 🛡️ For [[Definition:Insurance carrier | insurers]], scheduled personal property coverage requires careful attention to valuation accuracy and [[Definition:Moral hazard | moral hazard]], since overstated appraisals can inflate [[Definition:Loss payment | claim payouts]]. Many carriers require updated appraisals at regular intervals, particularly for items like fine art or antiques whose market values fluctuate. From the policyholder&#039;s perspective, scheduling high-value items eliminates the frustrating surprise of discovering after a loss that sublimits left them significantly underinsured. The additional premium is generally modest relative to the protection gained, making scheduled personal property an essential tool for properly insuring possessions that would otherwise fall through the gaps of standard [[Definition:Homeowners insurance | homeowners]] coverage.<br /> <br /> &#039;&#039;&#039;Related concepts&#039;&#039;&#039;<br /> {{Div col|colwidth=20em}}<br /> * [[Definition:Homeowners insurance]]<br /> * [[Definition:Endorsement]]<br /> * [[Definition:Sublimit]]<br /> * [[Definition:All-risk coverage]]<br /> * [[Definition:Appraisal]]<br /> * [[Definition:Personal property]]<br /> {{Div col end}}</div>

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