It can be advantageous to schedule items in your home insurance policy, so it’s best to check with your company.
When you have homeowner’s insurance, there are several things you need to consider. One of the most important is to schedule or not to schedule. Scheduling has to do with going through your home and photographing and inventorying everything. This is done to give the insurance company an exact value of what’s being insured.
The main advantage to scheduling is that you are able to show what you have and what the value of it is. This will make it easier when you make a claim to prove that the item was in the home and that it needs to be replaced.
When you schedule, there will never be issues when you place a claim where the insurance company can come back and question whether you actually owned a particular piece of jewelry or limited edition piece of art because it had been scheduled.
There are some disadvantages, however. If you don’t schedule everything, then those that you don’t schedule could be denied when they are part of a claim. It can also be expensive and time consuming to schedule because you have to have an impartial third party come through and photograph everything within the home.
Some insurance companies allow scheduling and others do not. This means that you will need to consider the overall value of your belongings and decide whether it is advantageous to do or not and see if it is permitted within your policy. If your insurance company permits it, they are likely going to guide you through the process, make some suggestions, and try to make it as easy as possible for you.
If you do choose to schedule, you want to make sure you go through everything, going room by room to include anything of value so that it is not left off. You don’t want to get into a situation where part of a claim is denied because something expensive was not included in the schedule.