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.

RELATED TERMS
  1. Fur Floater

    An insurance policy provision that provides coverage for damage ...
  2. Prior Acts Coverage

    A feature of an insurance policy that extends the coverage of ...
  3. Unscheduled Property Floater

    An insurance product that is added to an existing policy and ...
  4. Insurance Coverage Area

    The geographic region in which an insurance policy’s benefits ...
  5. Assigned Risk

    A risk that an insurance company is required to provide coverage ...
  6. Coincidental Excess Coverage

    Insurance coverage that provides excess coverage for a specified ...
Related Articles
  1. Personal Finance

    6 Types Of Insurance Coverage You Didn't Think You Needed

    These different types of insurance coverage can be beneficial, but they're often overlooked and misunderstood.
  2. Personal Finance

    The Beginner's Guide To Homeowners' Insurance

    Discover everything new homeowners need to know before they sign on the dotted line.
  3. Personal Finance

    Insurance Coverage: A Business Necessity

    Don't go to work without this policy in place - especially if your work is in your home.
  4. Personal Finance

    Filling The Gaps In General Liability Insurance

    Standard liability coverage may not be enough. Special needs call for specialized policies.
  5. Financial Advisor

    How To Insure Non-Traditional Assets

    You acquire these assets to hedge against financial turbulence in conventional investment markets. What's the best way to protect them?
  6. Personal Finance

    How Much Car Insurance Do I Need?

    Find out to determine how much car insurance you actually need with this overview of the different types of coverage available in your policy.
  7. Personal Finance

    6 Best Renters Insurance Providers

    Here are six companies that consistently offer excellent renters insurance at competitive rates.
  8. Trading

    Intro To Insurance: Conclusion

    By Cathy ParetoInsurance is an integral part of any personal financial plan. The type of insurance and the amount of coverage you obtain all depends on your unique financial and family circumstances, ...
  9. Personal Finance

    Add-On Insurance: Do You Need It?

    Insurance is important in certain situations, but there isn't always a need.
  10. Personal Finance

    5 Types Of Insurance You Can (And Should) Afford

    With insurance and warranties being offered on seemingly everything, it's hard to know what policies are worth your money. Learn about five affordable insurance policies that are worth considering.
RELATED FAQS
  1. What are some examples of industries that practice price discrimination?

    Understand the various types of insurance coverage offered in the insurance marketplace, and learn why each policy should ... Read Answer >>
  2. Does homeowners insurance cover my tenants' belongings?

    I have two houses that I use as rental properties. I want to insure the houses, but I was wondering if... Read Answer >>
  3. What's the difference between renter's insurance and homeowner's insurance?

    Renters insurance and homeowners insurance offer similar benefits for occupants and homeowners, but in different ways and ... Read Answer >>
  4. Does renters insurance cover car theft?

    Learn how the theft of a vehicle is not covered under a renters insurance policy but any personal property stolen from a ... Read Answer >>
  5. Does renters insurance cover bike theft?

    Learn how the theft of bicycles is covered under a renters policy and some tips for ensuring you receive a fair value for ... Read Answer >>
  6. Can my insurance company refuse me coverage?

    Insurance isn't always as straightforward as other products. Insurers can deny coverage in many different instances:Non-Renewal ... Read Answer >>
Hot Definitions
  1. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  2. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  3. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  4. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  5. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  6. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
Trading Center