What does 'scheduled personal property' coverage include?

Scheduled personal property coverage specifically includes high-value items, such as jewelry, art, collectibles, and other valuable possessions that are listed on the insurance policy with defined limits. This type of coverage is important because standard homeowner's insurance may not provide sufficient protection for these higher-value items. Scheduled personal property ensures that if these items are lost, stolen, or damaged, the policyholder will receive coverage that reflects the true value of the specific items rather than relying on generalized personal property limits.

By opting for this coverage, the policyholder can specify the value of each item, often requiring appraisals or receipts to substantiate the value. This tailored approach provides better financial protection should a claim arise, distinguishing it from typical coverage that applies to general personal property.