Your engagement ring cost $15,000. Your homeowners policy covers jewelry up to $1,500. If the ring is stolen, you collect $1,500.
This is one of the most common and most painful coverage gaps in homeowners insurance. Here is how to protect your most valuable personal property.
The Standard Homeowners Policy Limitation
Standard homeowners policies (HO-3) cover personal property — but with significant sublimits for certain categories of high-value items:
| Category | Typical Sublimit |
|---|---|
| Jewelry, watches, furs | $1,500–$2,500 |
| Firearms | $2,500 |
| Silverware | $2,500 |
| Money and coins | $200 |
| Securities and documents | $1,500 |
| Fine art | $0–$2,500 |
These sublimits apply regardless of your total personal property coverage limit. A $500,000 personal property limit does not help you if your $25,000 diamond ring is stolen — the sublimit caps your recovery at $1,500–$2,500.
Scheduled Personal Property Coverage
The solution is scheduled personal property coverage — also called a personal articles floater or inland marine coverage. This endorsement or standalone policy covers specific high-value items for their full appraised value.
How it works:
- You provide an appraisal or receipt for each item
- The item is listed (scheduled) on the policy with its agreed value
- In the event of a covered loss, you receive the scheduled value — no sublimits, no depreciation
What it covers:
- Theft (including mysterious disappearance — the ring fell off your finger and you cannot find it)
- Accidental damage
- Loss (in most cases)
- Worldwide coverage — your jewelry is covered whether you are at home or traveling
What it does NOT cover:
- Intentional damage
- Wear and tear
- Gradual deterioration
Items That Should Be Scheduled
Jewelry. Any piece worth more than $2,000–$3,000 should be scheduled. This includes engagement rings, wedding bands, heirloom pieces, and watches.
Fine art. Paintings, sculptures, and other artwork with significant value. Fine art requires a professional appraisal from a qualified art appraiser.
Collectibles. Coins, stamps, sports memorabilia, wine collections, and other collectibles with significant value.
Musical instruments. High-value instruments — a Steinway piano, a vintage guitar, a professional violin — should be scheduled.
Cameras and photography equipment. Professional camera equipment can easily exceed homeowners sublimits.
Furs. High-value fur coats and accessories.
Getting an Appraisal
For jewelry and art, a professional appraisal is required to schedule the item. The appraisal should:
- Be conducted by a qualified appraiser (GIA-certified for jewelry, ASA-certified for art)
- Describe the item in detail
- Establish the replacement value (not the market value or purchase price)
- Be updated periodically — values change over time
For jewelry, appraisals should be updated every 3–5 years. Art values can change more rapidly; update appraisals when you have reason to believe the value has changed significantly.
High-Value Home Carriers and Scheduled Property
Carriers that specialize in high-value homes — Chubb, AIG Private Client Group, PURE, Cincinnati Insurance — typically offer more comprehensive scheduled property coverage than standard carriers:
- Higher per-item limits
- Broader coverage (mysterious disappearance, accidental damage)
- Agreed value (no depreciation)
- Worldwide coverage
- No deductible on some policies
If you have significant jewelry, art, or collectibles, working with a carrier that specializes in high-value clients is worth the additional premium.
The Inventory Question
Before you can schedule your valuables, you need to know what you have. A home inventory — photographs, descriptions, and appraisals of your valuable items — is essential for both insurance purposes and estate planning.
Use our Home Inventory tool to create and maintain a comprehensive record of your valuables.
The Bottom Line
Standard homeowners sublimits leave most high-value jewelry, art, and collectibles significantly underinsured. Scheduled personal property coverage is the solution — and for most high-value items, the additional premium is modest relative to the protection it provides.
Talk to a RightQuote advisor about scheduled personal property coverage, or explore homeowners insurance options.
Part of the High-Value Home Insurance Guide.