Texas School Insurance Facts - December
Four Things You Need to Know About Scheduled vs. Blanket Property Coverage
When making a property insurance purchase decision, the most critical factor is the balance between insured risk and risk retention. Risk retention is usually measured in the amount of exposure to the fund balance in the event of a major property claim.
Key to being able to measure the exposure to the fund balance is understanding how the various types of property coverage respond when you have a major claim.
1. Scheduled Coverage
Scheduled coverage typically responds by paying up to the value of a specific building or structure listed on the property schedule. This benefits insurance carriers by