Property · Insurance Term
Scheduled Limit (Specific Limit)
Definition
A scheduled limit is a separate, specific limit of insurance assigned to each building, or each type of property at each location. Each item has its own limit, and a loss at one place can't borrow unused coverage from another.
In Plain English
With scheduled limits, your policy lists each building and its contents with their own amounts, often taken from your statement of values. If a building's actual rebuilding cost is higher than its scheduled limit, you can be underinsured on that building even if others are overinsured.
A blanket limit works differently: one combined limit covers several buildings or locations. Blanket coverage gives more flexibility but is often paired with a margin clause or similar wording that caps what is paid per location.
Scheduled limits make accurate values especially important. Many scheduled policies also include coinsurance, which can reduce a claim payment if the limit is too low compared with the property's value.
Not sure how your policy handles this? Have us review it, or get a quote.
Example
Hypothetical and simplified: an owner insures two buildings with scheduled limits of $1 million each. Building A would really cost $1.3 million to rebuild; Building B would cost $800,000. If Building A burns down, the most the policy pays for it is $1 million, even though Building B's limit is $200,000 more than it needs.
What to Watch For
- Check that each building's scheduled limit matches a current rebuilding estimate.
- Ask whether blanket coverage is available and what conditions come with it.
- Look for coinsurance requirements on each scheduled item.
- Update values whenever you renovate or add buildings.
Last updated October 14, 2026 · Primesure editorial team · How We Write