Schedule of Insurance
Definition - What does Schedule of Insurance mean?
A schedule of insurance is a detailed list of property or other items that will be covered by an insurance policy. The schedule may also include the exact benefits, premiums, and other costs associated with the policy. The purpose of a schedule of insurance is to clarify for the insurer and the insured exactly what is covered.
Insuranceopedia explains Schedule of Insurance
Some insurance policies do not provide a schedule listing every single item that is covered. Instead, they simply provide a maximum limit for coverage and all items within a certain group will be covered up to that limit. For example, a schedule of insurance could list coverage for two paintings, ten items of jewelry, eight pieces of furniture, three statues, and an amount of money kept in a safe.
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