A homeowner’s policy will cover the standard items that you may find in your home such as appliances, furniture, and clothing in the event of a loss. Many policies may limit coverage amounts for some valuable items to $1,000. People who own valuable possessions may need broader coverage than a homeowner’s policy. One way to better protect your valuable items is through a personal article’s floater.
What is a Personal Property Floater?
A personal articles floater is a standalone insurance policy that allows you to schedule your high value items. This type of policy often comes without a deductible. It may also cover you for accidental breakage or even if the item is lost (no theft involved).
For example, if you have a pair of diamond earrings and you lose one of the earrings, this coverage will replace the set.
First and foremost, people generally think of jewelry when discussing a personal articles policy; however, these policies will cover more than just jewelry.
What Does Personal Property Insurance Cover?
Below is a list of other high-valued items that may be covered by personal property insurance:
- Cameras
- Silverware
- Fine Art
- Furs
- Computers
- Firearms
- Musical Instruments
- China / Crystal
- Golf Equipment
- Postage Stamps
- Rare Coin Collection
- Fine Rugs
You invested in these types of valuable items for a reason. Make sure that you are properly protected in the event of a loss. If you have any questions about what may be covered on a personal articles policy, please contact us at 1-800-642-3490 and we will be happy to discuss.