Scheduled valuables, because the sub-limit is the surprise
Ask what your homeowners policy pays if your jewellery is stolen. Most people guess their contents limit. The real answer is usually a fraction of it.
What this touches
- Jewellery, watches and furs, itemised at an agreed value
- Fine art and collectibles
- Musical instruments, cameras and professional equipment
- Firearms and silverware, both of which carry their own low sub-limits
- Worldwide coverage, and usually no deductible at all on a scheduled item
The sub-limit, and what a schedule does to it
A standard homeowners policy caps theft of jewellery at a figure that has not moved with prices in decades, commonly around 1,500 dollars regardless of your contents limit. Scheduling an item takes it out of that cap, insures it at an agreed value with an appraisal on file, and typically covers mysterious disappearance, which the base policy does not: the ring that is simply gone is not a theft, and without a schedule it is not a claim.
What moves the premium
- The value scheduled, priced per thousand.
- Where the item is kept, and whether there is a safe or an alarm.
- The category: a diamond ring and a bicycle are rated very differently.
- How current the appraisal is, which also protects you at claim time.
Get the appraisal before you need it
An agreed value policy pays the schedule, so an appraisal from 2011 pays 2011 prices for a stone that has doubled. Refresh valuations every few years, and tell us when you do.
Questions people actually ask
Is an engagement ring worth scheduling?
Almost always. It is the single most commonly scheduled item, and the sub-limit on it is the single most commonly discovered surprise.
Work it out before anybody sells you anything
Four calculators that run in your browser, a page for every situation Florida puts people in, and the claims data for your own county. All of it free, and none of it behind a form. The form is for the other half of the job: when you have read enough and want a person on the phone.
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