Do I Need Scheduled Property Insurance for My Valuables? | Melissa Barron

Do I Need Scheduled Property Insurance for My Valuables?


If you keep special valuables at your house, such as antiques, firearms, jewelry, or collectibles, then you may need scheduled property insurance (also called collectibles insurance), in addition to your standard homeowner’s insurance policy.

What is “scheduled property insurance”?

Scheduled property insurance is an additional insurance policy, separate from your homeowners insurance. It covers valuable personal property, such as:

  • Jewelry
  • Antiques
  • Firearms
  • Furs
  • Coins
  • Artwork
  • Rare books
  • Silver
  • Musical instruments
  • China and crystal

Why can’t I just use my homeowner’s insurance?

You can. But be aware that homeowner’s insurance is very limited when covering special items (for example, coverage for your wedding ring may be limited to $1,000). It is also limited in the type of event that qualifies for coverage. For example: an art collection may be protected for fire, rain, hail, or wind—but not for a flooded basement. Also, your jewelry will only be covered for theft.

How much does scheduled property insurance cost?

Scheduled property insurance is not necessarily expensive. For example, you may pay as little as $40/year to insure a $4,000 baseball card collection—or several thousand dollars per year for a pricey artwork collection.

How do I get scheduled property insurance?

Work with an insurance agent who offers scheduled property insurance for valuables. You will most likely need to get your valuables professionally appraised; you may also be required to provide receipts.

Ready to protect your valuables?HomeServices Insurance can give you a free review today.