Do I need to schedule fine arts?

[darnovak]

I don't recall your inquiry asking anything about perils. Scheduling fine arts has nothing to do with perils. Depending on the product, fine arts coverage is provided on either a 'schedule' or 'blanket' basis. Refer to some specimen policies (or issued policies you have on file in your agency) that currently provide coverage for 'fine arts' and read the settlement provisions applicable. Personal and commercial package (multi-line) policies usually allow for either blanket or schedule. Monoline policies (personal or commercial) are also available to insure fine arts. These should also allow for schedule or blanket.
When you examine the settlement provisions regarding valuation, make sure you look for wording similar to: "the lesser of"
Some fine arts policies ( or inland maerine coverage parts) will only pay the lesser of ACV vs RC. Inquiries such as yours are best answered by examing the applicable contracts of insurance and then selecting the product which most closely meets the needs of the insured. In some circumstances, an insured may be financially better off claiming under an 'open perils' policy that provides RC instead of an IM policy or Fine Arts coverage part. I recall seeing an article on this in the Big I's Virtual University. That place contains a huge archive of insurance coverage information.