The ‘Owned Equipment’ policy limit is made up of  two sub-limits: scheduled and unscheduled equipment.

‘Unscheduled’ equipment considered to be all items you own that are individually valued below $2,000.  Your ‘Unscheduled’ limit is a blanket limit which covers all of your smaller items that are not individually listed on your policy.

Unscheduled Equipment Limit

• Your Owned Equipment Limit is made up of your scheduled items (items valued above $2,000) and your unscheduled limit. When you select a limit, the value of the scheduled items are subtracted from your overall limit and remainder is your blanket unscheduled limit.
• For example:
  • You have purchased an Owned Equipment policy with a $50,000 limit. You add two cameras to the policy, one valued at $5,000 and another valued at $15,000. Your ‘Scheduled’ equipment limit is $20,000. Your ‘Unscheduled’ equipment is $30,000.
  • A few months later you purchase another camera valued at $3,000 and add it to your ‘Scheduled’ equipment list. Your new ‘Scheduled’ equipment limit is $23,000. Your new ‘Unscheduled Equipment limit is $27,000.

Additional Information

• Because the value of your added scheduled items will be subtracted from your ‘Unscheduled’ Limit, you may need to increase your overall limit to bring your ‘Unscheduled’ limit back to a comfortable level
• You will not need to submit a list of your unscheduled equipment to us. However, you will need to provide a list of any equipment involved in any potential claim, at the time the claim is submitted. Because of this, we do recommend that you keep a list of all equipment you own handy (make, model, serial number and replacement cost).