Homeowner's Insurance - expensive items

Can someone explain to me what the difference is when you "schedule" something on your homeowner's insurance? I was told that most homeowner's insurance only cover jewelry up to $1000 so for items such as your engagement ring, expensive watches, and other expensive items you have in the house, you should schedule them. I guess your premium goes up based on the value of the scheduled items. Now, does this mean that these items are specifically insured and I still have whatever my original coverage was (since I am paying a higher premium) or do they items eat up part of my coverage and the scheduling is just a guarantee that they will be covered for their full value?

TIA!!!

Re: Homeowner's Insurance - expensive items

I was told I would need a separate rider for my e-ring and wedding band and any other jewlery items I would want to include

I have a jewlery policey with CHUBB for my e-ring that is cheaper then what it would cost to add it to a home owners policey

Re: Homeowner's Insurance - expensive items

I have a separate rider for my e ring and wedding band.

i pay 244 a year for my e ring!

Re: Homeowner's Insurance - expensive items

I woldn't list anything on your policy. I would get a separate rider or personal articles policy for your jewelry.

I keep a list of everything in my house and the approximate value in case something happens.