What is the insurance requirement for Scheduled Coverage regarding total property value?

Scheduled Coverage refers to a specific type of insurance that allows policyholders to insure individual items or properties separately. The requirement for scheduled coverage generally mandates that the total coverage must reflect a certain percentage of the property's value to ensure adequate protection against loss.

In this case, the requirement states that the coverage must equal at least 90% of the total insured properties' value. This percentage is aligned with the principle of insuring property to its real value, which helps avoid underinsurance and ensures that any potential claim can be adequately paid without facing significant out-of-pocket costs.

Complete coverage at this level helps protect the insurer as well, as it minimizes the likelihood of insufficient funds to cover losses. This is particularly essential in cases where multiple properties may be involved, ensuring that each item is given appropriate weight in the overall policy structure.

Other options may reflect different standards or levels of coverage that do not meet industry best practices or standard insurance requirements for ensuring sufficient financial protection across a scheduled coverage insurance policy.