Definition - What does Scheduled Limit mean?
A scheduled limit is a type of insurance coverage limit in which each individual property or asset has a specified limit of coverage. This is an alternative to blanket limits, in which one total limit may be used for multiple properties. This type of coverage limit is often used in property insurance.
Insuranceopedia explains Scheduled Limit
Scheduled limits are frequently used when one person or company owns multiple buildings. In such a circumstance, one building may have a scheduled coverage limit of $200,000, while another may have a scheduled coverage limit of $300,000, and so on. If it were a blanket limit, there could be, say, $1,000,000 total coverage for all of the buildings combined. Whether a blanket limit or a scheduled limit is the better option for a policyholder will depend on their individual circumstances.
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