What is Scheduled Personal Property Insurance?

Do you have items in your home that are of high value such as expensive jewelry, collectibles, or high-dollar equipment?  If so, the coverage in your homeowner’s policy may not be enough to protect these items. If you are unclear as to what your homeowner’s policy covers, the knowledgeable agents at Insurance & Financial Services Inc. of Plaquemine, LA can help explain your policy. We can also make recommendations on any additional coverage you may need.

How Much Personal Property Does a Homeowner’s Policy Cover?

While the personal property is covered in policy, there are generally limits to the dollar amount that is covered. For example, perhaps you own an antique clock collection valued over $5,000. If something happens to this clock collection, and it’s covered by your policy, because there is a cap on the amount that insurance will pay, you could only receive $1,000 in reimbursement after filing your claim.

If you elect to add scheduled personal property insurance coverage to your policy, you can increase the limits that insurance will cover.  Just make sure to provide your agent with a copy of your receipts or documentation from a professional appraiser to confirm the value.

The Benefits of Adding Scheduled Personal Property Insurance to Your Policy

One of the benefits of this additional insurance is that it covers more situations than a homeowner’s policy alone does. Plus, if you do need to file a claim, there is typically not a deductible to meet in these cases. So, the value of your prized items is protected. To learn more about whether a scheduled personal property policy is right for you, contact your agent at Insurance & Financial Services Inc. of Plaquemine, LA. We are here to help you with all your insurance questions.