Scheduled Personal Property

Scheduled Personal Property is such an insurance plan that provides you extended coverage to your simple homeowner insurance. The homeowner insurance plan provides limited coverage to your expensive and valuable possessions. Therefore, there is a need for such an insurance plan that extensively covers your precious belongings.

A standard home insurance plan covers jewelry, collectibles, paintings, and electronics up to a certain limit. Scheduled Personal Property is an endorsement to your homeowner plan that, like an add-on, safeguards your expensive belongings. It will provide you coverage if you lose your valuables or they somehow vanish from your home. 

However, there are multiple reasons when this insurance policy comes into action. Let us explore more about it in the upcoming sections!

What are the benefits of Scheduled Personal Property?

Here are some of the benefit of scheduling your personal property:

  1. It provides broader coverage to your valuable items. So, if they are lost or damaged, you will have no worries.
  2. Most of the insurance companies do not require deductibles.
  3. You get a replacement cost for your expensive possession, if it gets damaged.


When do you need it?

The answer to this question involves a bit of technicality. You may need expert help to determine whether you need it or not. Our agents at MKZ Insurance are dedicated to help you and get you out of this problem.

Anyhow, let us try to answer this question in simple and understandable words. 

First of all, you need to identify your expensive collectibles. Try to make a list of those valuable items. Some of these valuable items can be:

  1. Jewelry (including gold, platinum, and diamond ornaments)
  2. Equipment for Golf
  3. Expensive Musical Instruments
  4. Digital Equipment’s of high worth like cameras, etc.
  5. Silverware
  6. Worthy Paintings and Fine Arts
  7. Furs and leathers
  8. Firearms


The next step is to look at the homeowner’s policy. See its sub-limits for all of your valuable items and different types of property you own. You have to determine whether these sub-limits provide sufficient coverage to your valuable possessions or not.

If they do provide it, you do not need to schedule your personal property. But if they do not adequately safeguard, you need to schedule your item. 

However, if you find it difficult to understand the sub-limits, you can contact MKZ Insurance for assistance in New Jersey and New York.