What's the difference between blanket jewelry coverage vs. scheduled?
Individually scheduled jewelry via your property insurance involves adding a separate insurance rider for each piece, while adding a blanket scheduled jewelry endorsement allows you to have multiple pieces covered by one rider.
Requirements for each option vary by insurer, but scheduling individually may require you to submit appraisals for each item while a blanket endorsement may not. Individually scheduled jewelry is covered up to its replacement cost value, while a blanket endorsement may have a sub-limit for each item. And there's typically no deductible for either option.
Blanket coverage vs. scheduled individually
While both options involve scheduling your valuables via riders, there are some key differences between blanket jewelry endorsements and individually scheduled endorsements.
| Blanket endorsement | Individually scheduled | |
|---|---|---|
| Availability | Blanket endorsement Varies by insurer and state | Individually scheduled Standard |
| Deductible | Blanket endorsement None | Individually scheduled None |
| Pieces covered | Blanket endorsement All desired | Individually scheduled Individually scheduled item |
| Limit | Blanket endorsement Total limit specified by endorsement terms (e.g., total coverage limit of $50,000) | Individually scheduled Up to the piece's scheduled value |
| Sub-limit | Blanket endorsement Sub-limit per item (e.g., each piece is covered up to $10,000) | Individually scheduled None |
| Documentation required | Blanket endorsement Varies by insurer. Might not require an appraisal. | Individually scheduled Varies by insurer. May require an appraisal OR a bill of sale and color photo. |
Blanket coverage vs. scheduled individually — which should I choose?
For coverage up to the item's full replacement value of your jewelry, consider scheduling your pieces individually. If your insurer offers blanket endorsements in your state and you're satisfied with the sub-limit for each piece on the endorsement, a blanket endorsement might make sense. However, both options offer more coverage than not scheduling your jewelry at all.
Before deciding which is right for you, determine which pieces you'd like scheduled coverage for, and ask your insurer about how much a blanket endorsement might cost versus an individual rider.
Do I need to schedule my jewelry?
While your personal property coverage may cover valuables if they're lost or damaged by a covered peril, your policy likely has a sub-limit for items like jewelry. If you don't schedule your jewelry, it may only be covered up to a small portion of its replacement value. Plus, there's no deductible if you file a claim on a scheduled item.
Learn more about how to insure your jewelry via your homeowners insurance or renters insurance.
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