Scheduled Personal Property: Insuring Your Jewelry, Art, and Valuables

Your standard **home insurance** policy (see Article 1) has strict sub-limits on high-value personal property like jewelry, fine art, furs, and silverware. Typically, a basic policy might only cover $1,500 for stolen jewelry, regardless of its true value. To properly insure these items, you need a separate endorsement called **Scheduled Personal Property** coverage, often known as a floater.

The Benefits of a Floater Policy

A floater policy is essentially a miniature, separate insurance policy attached to your main homeowner’s coverage, offering superior protection:

**Full Appraised Value:** Coverage is based on an **Agreed Value** (similar to Classic Car Insurance, Article 12) determined by a recent appraisal, ensuring you are paid the item’s true worth.
**Broader Coverage:** It covers “mysterious disappearance” (losing a diamond ring) which is typically excluded from standard policies. It often covers risks anywhere in the world.
**No Deductible:** Many floaters have a $0 deductible, meaning the claim payout is the full agreed-upon value.

How to Schedule Your Valuables

To obtain a **jewelry floater** or other personal articles policy, you must provide the insurer with:

A recent, detailed appraisal by a certified expert.
Photographs of the item.
The location where the item is typically stored.

Quick Check: If your wedding ring, watch, or art collection is worth more than $2,500, you should almost certainly schedule it separately to protect its value.

By scheduling your high-value items, you move them from the limited, restrictive world of standard personal property coverage to a robust policy that truly protects your most cherished and valuable possessions.