Schedule Personal Property on Your Homeowner Policy

If you dig a little deeper for the perfect gifts at birthdays, anniversaries, or holidays, be sure those gifts are adequately insured. Would you like broader coverage on those special gifts? Why not schedule your personal property on your homeowners’ policy? For an additional premium, you can schedule the following types of property on a homeowner policy:

• Jewelry
• Fur
• Cameras
• Musical instruments
• Golfer’s equipment
• Fine art

Why schedule your personal property? One of the biggest advantages is that the “open perils” coverage is much broader than named perils coverage normally afforded to these items of property. For example, if a scheduled piece of jewelry is lost or a camera is knocked off a table and crashes to the floor, it is covered. With named perils, incidences such as these would not be covered.

Another advantage is that scheduled personal property is not subject to a deductible and it provides proof of existence of the item.

In order to schedule personal property on your homeowner policy, you typically need an appraisal if the value is over $1,000. Otherwise a receipt is acceptable if you recently purchased the item.

If you have any questions regarding this important coverage, please call FIFS at 267-384-5300 today!

FIFS Connection, Winter 2007, Vol.4, No.1