Scheduled Limit

What Does Scheduled Limit Mean?

A scheduled limit is a type of insurance coverage limit where each individual property or asset is assigned a specific coverage amount. This contrasts with blanket limits, which provide a single total limit that applies to multiple properties or assets. Scheduled limits are commonly used in property insurance. They also show up on homeowners and renters policies through endorsements like a personal property floater, which lets you schedule specific high-value items such as jewelry or fine art for their full appraised value.

Insuranceopedia Explains Scheduled Limit

Scheduled limits are often used when an individual or company owns multiple buildings. For instance, one building might have a scheduled coverage limit of $200,000, while another could have a limit of $300,000, and so forth. In contrast, a blanket limit might provide a total coverage amount of $1,000,000 for all buildings combined. Deciding whether a blanket limit or scheduled limits is more suitable depends on the policyholder’s specific needs and circumstances. A business that wants a single pool of coverage across every location would usually buy a blanket insurance policy, while one that prefers to set values per building tends to schedule them. The same choice applies to commercial property insurance covering buildings, contents, and stock, where each category can be insured under its own limit.