Scheduled Personal Property vs Spartan Enhanced Coverage

Endorsements can add extra value to your Florida homeowners insurance policy. When you own many high value items, the cost to replace them can be more than the limits on your standard (H03) policy, By adding either Scheduled Personal Property coverage or a Spartan Enhanced Coverage, you can protect your property more comprehensively in case of a loss.

Scheduled Personal Property

Scheduled Personal Property coverage allows you to itemize, or “schedule” individual items and pay a specific premium to protect them in full. When scheduling personal property for expanded coverage, you’ll generally need to be able to provide proof of valuation (via a third party appraisal).

Some examples of Scheduled Personal Property include:

Fine jewelry and watches
Furs and expensive formal wear
Fine art including paintings and sculptures
Musical instruments
Luxury furnishings

Should you purchase or acquire property once your policy is in place, you will never have to worry about an immediate uncovered loss. Olympus provides automatic 90-day coverage on new items that are similar to those already covered, according to the limits of your current schedule.

In addition to coverage for specific items, you may wish to add coverage for specific situations. Popular coverage additions for Scheduled Personal Property include a low deductible or no deductible, and coverage for lost or stolen items, also known as a “mysterious disappearance.”

Spartan Enhanced Coverage

Spartan Enhanced Coverage is available exclusively through Olympus and allows you to cover high value items under a blanket endorsement that doesn’t require itemized scheduling. Spartan also provides up to five times the coverage of a standard (HO3) policy, raising limits for your home, personal property, and liability as well as adding coverage for commonly excluded situations.

Some examples of Spartan Enhanced Coverage include:

All-risk coverage for personal property, at 100% replacement cost
Coverage for damages caused by water back up in sewers, drains or sump pumps with nominal $250 deductible
Up to $5,000 in coverage for trailers not used for watercraft
Up to $10,000 in coverage for property on the “residence premises” used at any time or in any manner for any business purpose
Identity theft and fraud coverage (up to $10,000)
Loss of use of your home due to power stoppage

… and much more.

You can get the most protection out of your Scheduled Personal Property endorsement or Spartan Enhanced Coverage by creating a detailed home inventory list. Ask your agent about adding endorsements to your homeowners insurance policy today.

About Olympus Insurance Company

Headquartered in Palm Beach Gardens, FL and founded in 2007, Olympus Insurance Company specializes in Florida property insurance. Through its independent agency force, Olympus insures $40 billion worth of residential and investment property including homes, condos, rental property, and valuable personal property, with umbrella coverage and Spartan Enhanced Coverage available. Coverage for individual risks up to $5 million in total insured value is provided on one of the most comprehensive coverage forms in the industry.

For more information, visit olympusinsurance.com.

This article is for informational purposes only and does not form a part of, replace, change or amend any terms, conditions, provisions or language within your Olympus Insurance policy. We encourage you to read your entire policy.