Scheduled Personal Property Coverage: Protects High-Value Belongings Beyond Standard Renters Insurance

Scheduled Personal Property (Plain English)

Scheduled Personal Property Coverage is extra protection for valuable items like jewelry, cameras, or art. When something happens—like theft, accidental loss, or even damage—this coverage pays the full amount you insured each item for. The key thing to understand is that it protects individual high-value items beyond your standard renters policy.

The Fine Print

This coverage usually does not have a deductible—so you don’t pay out of pocket when you claim. You must supply appraisals or receipts for each item. Payouts are typically for replacement cost (not depreciated value), but only up to the amount you scheduled per item. Coverage applies worldwide, but only to items specifically listed on your policy. Exclusions apply—like wear and tear or using items for business purposes.

Scheduled Property vs. Standard Renters

Scheduled Personal Property Coverage is NOT the same as regular renters insurance. Scheduled coverage covers full appraised value for specific valuables, while standard renters has low sublimits and won’t cover accidental loss. You typically need both to be fully protected.

Who Needs Scheduled Personal Property?

You typically need this coverage if:

• You have jewelry, collectibles, high-end electronics, or art worth more than base policy sublimits
• Your items are valuable, portable, and at risk for loss/theft

You might skip this coverage if:

• Your most expensive belongings are under $1,000 each and you’re comfortable with base limits

Choosing Coverage Limits & Options

You schedule each valuable item for a specific dollar amount—usually based on an appraisal or receipt. There’s typically no deductible for scheduled claims. Coverage is highly customizable: you can add or remove items at any time, and update values as needed if you acquire new belongings.

What's NOT Covered by Scheduled Property

This coverage does NOT cover:

• Normal wear and tear: Age, gradual deterioration, or damage from improper care
• Business use: Items used for work or business are excluded
• Certain property types: Motor vehicles, pets, and some specialty categories
• Intentional loss or fraud: Losses caused by intentional acts or dishonest claims

For these situations, you'd need other specialized insurance or endorsements.