Glossary

What is Scheduled Coverage?

Individual items are listed (scheduled) on the policy with specific values and coverage terms for each item.

Full Definition

Scheduled coverage means individual items are listed on the policy with their specific description, value, and any unique coverage terms. Each scheduled item is covered for its stated amount (agreed value) or its appraised replacement cost. Scheduling is common for high-value personal articles (fine art, jewelry, watches), commercial equipment, and specific building locations. The advantage of scheduling is that each item's value is agreed upon at policy inception, eliminating valuation disputes at claim time. The disadvantage is that newly acquired items must be added to the schedule — most policies provide automatic coverage for new acquisitions for 30-90 days.

Related Terms

Blanket Coverage

Replacement Cost vs. Actual Cash Value

Endorsement

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Related Coverage & Services

Commercial Property Insurance

Commercial property insurance covers buildings, equipment, inventory, and business personal property against physical loss or damage.

Fine Art & Collections Insurance

Fine art and collections insurance provides all-risk coverage for artwork, wine, jewelry, antiques, and other valuable collections.

Blanket Coverage

A single limit of coverage that applies across multiple items, locations, or categories rather than scheduling each one individually.

Replacement Cost vs. Actual Cash Value

Replacement cost pays to replace damaged property without deduction for depreciation; actual cash value deducts depreciation from the replacement cost.

Endorsement

A written amendment to an insurance policy that adds, deletes, or modifies coverage terms, conditions, or limits.

Personal Insurance

Private Client

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