Scheduled Policy

What Does Scheduled Policy Mean?

A scheduled policy is an insurance policy that lists specific items covered by the insurer. Scheduled property is often added as a supplement to a primary insurance policy.

Scheduled insurance policies serve as an alternative to unscheduled policies, which offer coverage up to a certain limit for a wide range of items.

Insuranceopedia Explains Scheduled Policy

Many people opt for scheduled policies to ensure they have adequate coverage for their valuable possessions. For instance, a standard homeowner’s policy might provide $500,000 in unscheduled coverage. However, if the policyholder owns jewelry valued at $100,000, they may choose to purchase a supplementary scheduled policy specifically to cover the jewelry. Essentially, scheduled policies guarantee coverage for specific items, making them crucial for individuals who own rare, expensive, or luxury items.