Since it's Valentines Day, I figured this is the best time to discuss a coverage called Scheduled Personal Property with you. Some of you may be familiar with it, but some of you may not. An example of Scheduled Personal Property (SPP) would be your wedding ring, engagement ring, necklace or maybe a watch. Most homeowners insurance policies cover Personal Property, however, it probably doesn't cover jewelry that you are wearing or there is a limit (sometimes as low as $2,500)
Scheduled Personal Property can be added to your homeowners insurance for a small fee (based on value of the jewelry) and usually, depending on the insurance company, there is no deductible. Sometimes an appraisal is required for jewelry that is greater than $15,000. If you have questions, contact us.