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April 1, 2024

When it comes to protecting your valuable assets, having the right insurance coverage is essential. Home insurance policies typically provide coverage for personal belongings, but there may be limitations on high-value items. That’s where scheduling assets on your policy comes into play. In this blog post, we will explore what it means to schedule assets on your home insurance policy and why it’s important.. 

What is Scheduling Assets? 

Scheduling assets, also known as scheduled personal property, refer to listing and specifying high-value items individually on your home insurance policy. These items are typically possessions with values that exceed the coverage limits provided by your standard policy. By scheduling these assets, you can ensure that they are adequately covered against various risks, including theft, damage, or loss. 

Why Schedule Assets? 

Scheduling assets on your policy offers several advantages: 

  1. Increased Coverage: Standard home insurance policies have coverage limits for specific categories of belongings. By scheduling high-value items, you can ensure they receive full coverage up to their appraised or agreed-upon value, providing you with greater financial protection. 
  1. Expanded Perils: Scheduled assets are often covered against a wider range of perils compared to the coverage provided by the base policy. This means your valuable possessions are protected from a broader spectrum of risks. 
  1. No Deductibles: Scheduling assets often allows for coverage without the application of deductibles. This means that in the event of a claim, you won’t have to pay a deductible for the scheduled items, making the claims process more straightforward and cost-effective. 
  1. Peace of Mind: By specifically listing and scheduling your high-value items, you have a clear record of their worth and coverage. Knowing that your most valuable possessions are protected can provide peace of mind. 

What Items Should Be Scheduled? 

High-value items that are commonly scheduled on home insurance policies include: 

Jewelry and Watches: Expensive engagement rings, diamond necklaces, and luxury timepieces are examples of items often scheduled due to their significant value. 

Art and Collectibles: Valuable artwork, antiques, rare coins, and collectible items may require scheduling to ensure their full value is protected. 

Musical Instruments: High-end musical instruments such as pianos, violins, or guitars may need to be scheduled due to their value and susceptibility to damage. 

Electronics: High-value electronics like high-end cameras, home theatre systems, or specialized computer equipment may require scheduling to ensure comprehensive coverage. 

Furs and Fur Coats: Luxury furs and fur coats are often scheduled due to their high cost and vulnerability to damage. 

Scheduling assets on your home insurance policy is an effective way to protect your high-value possessions that may exceed the coverage limits of a standard policy. By specifically listing and specifying these items, you can ensure they receive adequate coverage against various risks. As your trusted insurance provider, ICD Insurance understands the importance of safeguarding your valuable assets. We offer comprehensive home insurance solutions that can be tailored to meet your unique needs, including the scheduling of high-value items.  

Contact ICD Insurance today  

Contact us today to discuss your insurance requirements and discover the peace of mind that comes with knowing your valuable possessions are well-protected