That engagement ring, watch collection, or piece of art is probably underinsured on your homeowners policy, often badly. Scheduling is the fix, and it is one of the simplest.
Where homeowners coverage falls short
Homeowners policies cap payouts for categories like jewelry, watches, furs, and art, frequently at a few thousand dollars, and often only for theft. An item worth more than the sub-limit is effectively underinsured.
What scheduling does
Scheduling lists a specific item on your policy at an agreed value, based on an appraisal or receipt, and covers it for a much broader set of losses, including accidental loss and damage, usually with no deductible. A dropped ring or a lost stone is covered, not just theft.
Scheduling vs blanket coverage
You can schedule individual high-value pieces or add blanket coverage for a category. Scheduling gives agreed-value certainty for specific items; blanket coverage is simpler for many smaller pieces. Often a mix is right.
What to do
Compare what you own against your homeowners sub-limit, schedule the high-value pieces at agreed value, and keep appraisals current, since values for jewelry and watches change. It is a quick, high-value fix.
Questions to ask your advisor
- What is my homeowners sub-limit for jewelry, watches, and similar categories?
- Do I own any items above that sub-limit that should be scheduled?
- Does scheduling cover accidental loss and damage, not just theft?
- Do my higher-value pieces need an appraisal to set the agreed value?
- Would scheduling, blanket coverage, or a mix of the two fit my situation best?
Want guidance first? Compare your coverage. Already know what you need? Get a quote.