Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A homeowner’s policy provides a stated amount of coverage for personal property. This is "unscheduled personal property." There is an option to purchase a floater where specific items will be insured to full value, and the deductible is not charged. This is called “scheduled property.” Not all property can be scheduled. It must be replaceable and the value set by a competent appraiser. This type of coverage is used most frequently for jewelry because the homeowner’s policy has a limit for coverage for jewelry.
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A homeowner’s policy provides a stated amount of coverage for personal property. This is "unscheduled personal property." There is an option to purchase a floater where specific items will be insured to full value, and the deductible is not charged. This is called “scheduled property.” Not all property can be scheduled. It must be replaceable and the value set by a competent appraiser. This type of coverage is used most frequently for jewelry because the homeowner’s policy has a limit for coverage for jewelry.