Jewelry, Furs and Fine Art
Most insurance policies limit
the amount of coverage for specific items of your personal property
i.e. jewelry, furs, antiques and fine arts. Losses to these
items are subject to policy deductible. One way to protect
your valuables for full replacement value is through "scheduling"
them onto your homeowners policy.
A Scheduled Personal Property Endorsement provides coverage for
your valuable items at their current replacement value for an
affordable additional premium. The amount of coverage is
usually determined by a current appraisal typically no more than 2
to 3 years old or receipts for newly purchased items. For
jewelry, a certified gemologist or reputable jeweler can provide
you an appraisal for a fee, but may be waived at your place of
purchase. They will prepare a detailed description of your
jewelry indicating quality, size, photos and estimated replacement
What is the advantage of scheduling?
- Coverage is all risk including mysterious disappearance
- The scheduled item is not subject to the Policy Deductible
- The loss settlement is the amount that you scheduled the item