Jewelry, furs, fine arts and other unique items can be covered on an open perils basis by scheduling each item with the Scheduled Personal Property endorsement. 

Previously, it was the expectation of the agency to secure the appraisal or sales receipt and retain it in policy files.  We are now requesting the appraisals be sent in or attached to the iBIS system with a full description at the time of application or endorsement for jewelry items valued at greater than $5,000.  The appraisal or sales slip cannot be more than three years old.  If the item is valued less than $5,000, please make sure to include a full description of the item.  The jewelry descriptions should include color, cut, clarity and carat of stones as well as karat and color of the metal used.  For other items a description including the style, size, manufacturer or artist should be included.  No deductible applies to this coverage.

Our Claims Department has advised us descriptions of scheduled items need improvement.  Often, the description is too general or brief, and it causes problems at time of loss settlement.  We need valid descriptions to insure the item.  Therefore, if the appraisal/sales receipt or full description is not provided, we will be unable to schedule the property until this supporting information is obtained.  

The Jewelry Blanket Coverage is ideal when the insured wants open perils coverage without listing the items individually. It can be used when the insured has jewelry items under $5000, up to $25,000.  No deductible applies to this coverage.