What does it mean to schedule personal property? What types of property would I most likely want to schedule?
Certain types of personal property are subject to maximum dollar limits that the insurance company will pay in the event of a loss. Two classes of personal property are usually subject to these limits. The first is property that is particularly valuable that not everyone would own. For example, a collection of antique china dolls would be subject to a separate, smaller limit under the standard homeowners policy. The second class of personal property for which coverage is limited under a standard HO policy consists of is personal articles that should be covered under other types of insurance contracts. For example, a computer in the home that is used for business purposes should be covered under a commercial property policy, not a personal homeowners policy and is therefore subject to a limit of liability.
