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.