Having homeowners insurance is important, but it often isn’t enough when it comes to high-value items. Standard policies may limit coverage for certain belongings, leaving gaps if they’re lost, stolen, or damaged. That’s where Scheduled Property Coverage comes in.
Scheduled property coverage is an add-on to your homeowners policy that provides broader protection for your most valuable possessions. With this supplemental coverage, you can make sure prized items are insured for their true value—no matter where you are.
What Items Should You Consider Covering?
If you own valuable property worth more than $1,000, scheduling those items is worth considering. Common examples include:
- Artwork and paintings
- Jewelry and watches
- Furs and Clothing
- Silverware
- Coin collections or firearms
- High-end sports equipment
- Sports memorabilia
How Does It Work?
Unlike a standard homeowners policy, which may only reimburse up to a set limit, scheduled property coverage uses the appraised value of your item. A third-party appraiser determines the replacement value, and once agreed upon, your coverage locks in at that amount. That way, if something happens, you’re reimbursed at the full agreed value—not a depreciated one.
What Does It Cost?
The cost of scheduled property coverage depends on the items you insure and their appraised value. Premiums vary from person to person, but the peace of mind is worth it. With a Nationwide policy, for example, you’ll enjoy worldwide protection with no deductible. That means if you lose your wedding ring while traveling, your policy will step in to replace it.
Why It Matters
Life happens—whether it’s a lost ring on vacation, a broken heirloom, or theft at home. Scheduled property coverage ensures you don’t have to worry about gaps in your standard homeowners insurance.
For more details, contact Mindi McKinley Insurance Services. We’ll help you evaluate whether scheduled property coverage is the right fit for your lifestyle and valuables.
What Basic Homeowners Insurance Covers
Your Home
Protects the structure itself—plus built-in appliances and even wall-to-wall carpeting—against covered damage.
Your Belongings
Covers personal property that isn’t attached to the home, such as furniture, clothing, jewelry, and electronics.
Personal Liability
Helps cover costs if you’re legally responsible for an accident in your home that causes injury or property damage.
Medical Coverage
Pays medical (and in some cases, funeral) expenses if someone is hurt on your property—regardless of who’s at fault.
Other Structures
Extends protection to things not attached to the house, like sheds, fences, detached garages, barns, and gazebos.
Credit Card & Fraud Protection
Covers up to your policy limit for unauthorized use of credit cards, debit/ATM cards, forged checks, or counterfeit money.
Disclaimer: Coverage under a homeowners insurance policy may vary based on the insurer, state regulations, and the specific terms of your policy. This information is provided for general purposes only and does not replace your individual policy documents. Always review your policy carefully and consult with your insurance provider or licensed agent to understand the exact protections, exclusions, and limits that apply to your home.
