Having homeowners insurance may not be enough to cover items that have a higher value in the case of robbery, loss or damage. It is important that you consider Scheduled Property Coverage if you have concern. Scheduled property coverage is a supplemental insurance policy that extends coverage beyond the standard protection provided in your homeowners’ policy. By adding a scheduled personal property policy, you can ensure the full-value coverage of valuable items, in the event of a claim.
What type of property should I consider?
If you have any of the following property worth more than $1,000 you should consider a scheduled personal property policy:
- Artwork and paintings
- Jewelry
- Furs
- Silverware
- Sports equipment
- Sports memorabilia
How does scheduled property coverage work?
Since replacement costs of a standard homeowners’ policy don’t take into account the value of these items, the replacement value must be established by a third party appraiser. Once a value is agreed upon, the property is covered at an agreed loss settlement cost.
What does coverage cost?
Coverage costs are based on the items covered and can vary person to person. However the benefits are awesome, with a Nationwide policy you can have world-wide coverage with zero deductible. That means if your traveling and lose your wedding ring your coverage is in place to replace it. For more information contact Mindi McKinley Insurance Services today and we can help you evaluate if this type of policy will be right for you.
