Over the years we all tend to fill our homes with stuff. Most of it is the normal, everyday trappings that fill our lives. But some of it is valuable - like your engagement ring, or your grandmother's pearls that you inherited, or the coin collection you've had since you were 10 years old.
With a typical renter's or homeowner's insurance policy, your personal property (furniture, clothing, jewelry, money, electronics, etc.) is covered under Coverage C while it is anywhere in the world. That sounds great, but as with most things, there are limits. For example, loss to personal property may be only covered if the loss is caused by certain perils. And if it is covered, there may be limits such as $1,000 for jewelry, $200 for money and coins, $1,000 for watercraft or $2,000 for firearms. Here are 3 reasons why it makes sense to schedule your valuable items: