Scheduled and unscheduled property coverage is something that can be confusing for many policyholders, leaving them confused or wondering what exactly is covered under their policy.
Typically, any property you have under $2500 does not need to be scheduled and would fall into your unscheduled property limits. If you have any property that exceeds that value you will need to schedule each of those items with your insurance carrier. That means giving them at a minimum an itemized list with values, serial numbers, and models type.
It is important to add scheduled property for items that exceed the threshold of your unscheduled property limits if you want to be fully indemnified for your loss. Every carrier will cap their payments to the maximum of the unscheduled limit, which in this example was $2500.
If you have additional questions or concerns regarding your coverages don’t hesitate to reach out to The Bulow Group, we are here to help!