Scheduled Personal Property.

In plain English

Scheduled personal property is an add-on to a home or renters policy that insures a named, valuable item separately from your general belongings. You list the item, usually with an appraisal or receipt, and the insurer covers it up to that stated amount. People use it because a standard policy caps how much it will pay for categories like jewelry, watches, fine art, cameras, and collectibles, often far below the item's real value. A scheduled item also usually has no deductible and is covered against more types of loss, including simply losing it.

01Why it matters

Your regular policy might only pay a few hundred dollars if your engagement ring is stolen, so without scheduling it you could be out thousands.

02The math, step by step

Imagine your standard policy caps jewelry theft payouts at $1,500, but your engagement ring is worth $7,000. If the ring is stolen, the base policy pays only $1,500. If you had scheduled the ring for $7,000 after an appraisal, the insurer pays the full $7,000, and usually with no deductible. The extra premium for scheduling is small, often a low yearly percentage of the item's value; the exact rate is set by your insurer and shown on your policy.

03What this is NOT

04Receipts

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