Scheduled Property

Sometimes rare or unique items such as collectibles, antiques, jewelry, and art may increase in value (appreciate) over time rather than decrease (depreciate), and the coverage of a standard policy typically does not provide adequate coverage in these situations. Most standard homeowner’s policies will cover, for example, up to $1,000 in total for comic books and trading cards, regardless of the value of your collection. While that might be perfectly suitable for some, a serious collector could have individual pieces worth far more than that limit. To protect items of unique value, the property owner and insurer can opt to cover specific items named on a schedule for an agreed-upon amount reflecting the item’s true value, which would be included as an endorsement on the policy and require an additional premium.