Jan 17 The Benefits of Scheduled Personal Property Insurance

The Benefits of Scheduled Personal Property Insurance

Here’s why you should secure scheduled personal property insurance.

Homeowners insurance comes with four main coverages: property coverage, personal liability coverage, loss of use coverage, and personal property coverage. When it comes to your personal property coverage, your home policy is subject to certain limits. These limits can make it difficult for you to secure comprehensive coverage for high-value items such as jewelry, art, antiques, and so on. Fortunately, you can address this coverage gap by adding scheduled personal property insurance to your homeowners insurance policy. Here’s what you need to know about this optional coverage.

Understanding Your Coverage Limits

While standard homeowners insurance offers coverage for your personal belongings, your policy likely has a dollar limit on what it will pay for different categories of items. For instance, there may be a $2,000 limit on what your insurance will pay for jewelry, even if your overall personal property limit is higher. So, if you filed a claim for a piece of jewelry valued at $2,500, you would only be covered up to $2,000.

How Scheduled Personal Property Insurance Can Help

Scheduled personal property is an optional coverage that you can tack onto your homeowners insurance. This coverage offers protection against a greater number of risks and increases the coverage limits for specifically listed high-value items. When you schedule your valuables, the obvious benefit is that you have increased coverage. Additionally, you have the option to set a lower deductible or even no deductible for the items you list. This ensures that you can access your personal property insurance when you need it most.

This is how securing scheduled personal property insurance can help you get the comprehensive coverage that you need.  If you have further questions regarding your personal property or homeowners insurance, then contact the experts at Weeks & Associates Insurance Services.  Located in Thousand Oaks, California, we are eager to assist you with all your coverage needs today.

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