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. First Dollar Coverage

    An insurance policy feature that provides full coverage for the ...
  2. Coordination Of Coverage

    A review or modification of an individual's or business’ insurance ...
  3. Fur Floater

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

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

    An insurance product that is added to an existing policy and ...
  6. Worldwide Coverage

    An insurance policy provided by some insurance companies that ...
Related Articles
  1. Home & Auto

    What Is And Isn't Covered By Homeowners Insurance

    Understanding what your insurance covers can be confusing. Learn what almost all insurance policies have in common.
  2. Home & Auto

    Intro To Insurance: Property And Casualty Insurance

    By Cathy ParetoProperty and casualty insurance is insurance that protects against property losses to your business, home or car and/or against legal liability that may result from injury or damage ...
  3. Home & Auto

    The Beginner's Guide To Homeowners' Insurance

    Discover everything new homeowners need to know before they sign on the dotted line.
  4. Home & Auto

    Understanding Contents Coverage

    This type of insurance deals with personal belongings. Find out what it covers, and if you need to cover more expensive items.
  5. Entrepreneurship

    Insurance Coverage: A Business Necessity

    Don't go to work without this policy in place - especially if your work is in your home.
  6. Home & Auto

    Filling The Gaps In General Liability Insurance

    Standard liability coverage may not be enough. Special needs call for specialized policies.
  7. Insurance

    Is Renter’s Insurance Worth It?

    Renter’s insurance is so relatively inexpensive that there’s really no reason not to have it. Still, how much does it cost and what does it cover?
  8. Home & Auto

    Making Sure Your Jewelry Is Insured

    Homeowners insurance only covers so much - find out how to make sure your jewelry is covered for theft, loss and damage.
  9. Home & Auto

    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, ...
  10. Insurance

    6 Best Renters Insurance Providers

    Here are six companies that consistently offer excellent renters insurance at competitive rates.
RELATED FAQS
  1. Does renters insurance cover moving?

    Learn how a renters insurance policy will only provide coverage during a move under certain circumstances, such as damage ... Read Answer >>
  2. 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 >>
  3. 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 >>
  4. What are some examples of when insurance bundling is a bad idea?

    Learn about situations where insurance bundling may not be a favorable option. Bundling insurance is often a good idea, but ... Read Answer >>
  5. 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 >>
  6. Why is my insurance premium so high/low?

    Insurance premiums can be affected by many factors including: type and amount of risk size of deductible amount of coverage ... Read Answer >>
Hot Definitions
  1. Labor Market

    The labor market refers to the supply and demand for labor, in which employees provide the supply and employers the demand. ...
  2. Demand Curve

    The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity ...
  3. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  4. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  5. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  6. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
Trading Center