Valuable protection for valued items

Scheduled personal property coverage from The Hanover

While Hanover homeowner’s policies provide your customers with excellent coverage for their personal possessions, some of their most precious items may require additional protection. 

The benefits of a scheduled personal property endorsement include:

  • No deductible
  • Open peril coverage, with certain exceptions, for physical loss
  • Coverage provided for mysterious disappearances

 

A scheduled personal property endorsement provides specific protection for items including: 

  • Jewelry
  • Coins and coin collections
  • Stamps and stamp collections
  • Silverware, including silver plated, gold plated, or pewter ware
  • Fine arts
  • Cameras
  • Furs and fur garments
  • Musical instruments
  • Sports equipment such as golf clubs or bicycles
  • Firearms
  • Hearing aids
  • Wines
  • Hobby collections, including items such as memorabilia, souvenirs, and collection items
  • Limited editions, including limited edition dolls, plates, figurines, rare books, antiques
     

 

Scheduled personal property standard loss settlement

For trims other than Prestige, each item must be listed with an amount of insurance. Endorsement pays the least of following:

  1. Actual cash value of the property at the time of loss or damage;
  2. Reasonable amount to repair to condition prior to loss;
  3. Reasonable amount to replace with substantially identical article; or
  4. The amount of insurance

Items scheduled as fine arts are settled at agreed value.

Scheduled personal property agreed value loss settlement

For trims other than Prestige, each item must be listed with an amount of insurance. Endorsement pays, for each item, the full amount shown in the schedule which is agreed to be the value of that item.

When the item is part of a part or set, we will pay the full amount shown in the schedule for the pair, set or complete article.

Agreed value is not available for the hearing aid class.

Scheduled personal property in vault

Itemized jewelry shown as in vault in the declarations must be kept in a bank vault.

There is no coverage for these items while they are out of vault, unless we agree in advance to cover them.

 

Prestige scheduled personal property standard loss settlement

For Prestige trim, each item must be listed with an amount of insurance. Endorsement pays the least of following:

  1. Actual cash value of the property at the time of loss or damage;
  2. Reasonable amount to repair to condition prior to loss;
  3. Reasonable amount to replace with substantially identical article; or
  4. The amount of insurance

Items scheduled as fine arts are settled at agreed value.

Prestige scheduled personal property agreed value loss settlement

For Prestige trim, each item must be listed with an amount of insurance. Endorsement pays, for each item, the full amount shown in the schedule which is agreed to be the value of that item.

When the item is part of a part or set, we will pay the full amount shown in the schedule for the pair, set or complete article.

Agreed value is not available for the hearing aid class.

Valuable Items Plus - blanket scheduling

This endorsement is used for blanket scheduling of personal property. It provides for open perils coverage for select property items without the need to individually list and
describe each item. It also eliminates the Section I deductible for losses to property scheduled under the endorsement.

Note:

  • Loss settlement for Coverage C under the base policy applies to this endorsement, subject to the per item coverage limit
  • Maximum loss payable per item is in the table below so items valued at more than per item limit should be itemized scheduled

 

Coverage not available in all states and limits may vary. Please refer to your agent guides for more details.  

 

Product offering

A scheduled personal property endorsement provides specific protection for items including: 

  • Jewelry
  • Coins and coin collections
  • Stamps and stamp collections
  • Silverware, including silver plated, gold plated, or pewter ware
  • Fine arts
  • Cameras
  • Furs and fur garments
  • Musical instruments
  • Sports equipment such as golf clubs or bicycles
  • Firearms
  • Hearing aids
  • Wines
  • Hobby collections, including items such as memorabilia, souvenirs, and collection items
  • Limited editions, including limited edition dolls, plates, figurines, rare books, antiques
     

 

Scheduled items resources

The Hanover offers an array of scheduled items coverage resources for you and your customers. You can access our library of ready-to-use marketing materials for agents on TAP Marketing.

 

Go to TAP Marketing

 

 

Scheduled personal property coverage overview

This information sheet highlights items covered under a scheduled personal property endorsement. 

Download now

Resources for you

Use these pieces to learn more about The Hanover's scheduled items coverage. Find more agent resources in TAP Marketing.

Scheduled personal property coverage overview [PDF]

Scheduled personal property information sheet [PDF]

 

Resources for your customers

This content can help explain the importance of scheduled items coverage to your customers. Find more resources in the Prepare now. Learn how. content library.

Scheduled personal property brochure [PDF]

Insuring your jewelry

Scheduled items endorsement coverage made clear [video]

 

Questions about scheduled personal property coverage?

Contact your underwriter for more information.