Scheduled Personal Property

DEFINITION of 'Scheduled Personal Property'

Additional coverage that's over and above the typical coverage in a homeowners' insurance policy. Scheduled personal property protects valuable items that are out of the ordinary and need to carry separate coverage to ensure that their full value is covered in the event of a claim. Each item that the insured wishes to schedule needs to be added separately to the insurance policy and generally an additional premium is charged.

BREAKING DOWN 'Scheduled Personal Property'

Examples of items that an insured should schedule are jewelry, art, musical instruments, furs, coin collections and other costly items that are out of the ordinary. Scheduling valuable items is different for each insurance company but most require either a receipt or appraisal value to be kept on file with the insurance company stating the value of each specific item.

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