Personal Articles Floater

A type of insurance policy that provides coverage for valuable personal items, such as jewelry, fine art, or collectibles, beyond the limitations of standard homeowner’s or renter’s insurance.

A personal articles floater is a type of insurance policy that provides extra coverage for valuable personal possessions that may not be fully protected by a standard homeowner’s or renter’s insurance policy. It’s designed to provide broader protection for items like:

• Jewelry
• Fine art
• Collectibles (stamps, coins, etc.)
• Furs
• Musical instruments
• Cameras
• Sports equipment

How it works

• Scheduled items: The policy typically lists (schedules) each item with a description and its appraised or estimated value.
• Worldwide coverage: The coverage often extends worldwide, protecting the items whether they are at home, in storage, or being transported.
• Broader perils: It typically covers a wider range of perils than standard homeowner’s or renter’s insurance, including accidental damage, loss, and theft.
• Agreed value: Some policies may provide coverage on an “agreed value” basis, meaning the insurer agrees to pay a pre-determined amount for a covered loss, regardless of the item’s current market value.

Global perspective

While the term “personal articles floater” is common in the USA, similar types of coverage for valuable personal items are available in many other countries.

• Other Names: It might be called “valuable articles insurance,” “specified items cover,” or “high-value contents insurance” in different regions.
• Availability: The availability and specific terms of this coverage can vary depending on the country and the insurance market.
• Inclusions and Exclusions: The types of items covered and the specific perils included or excluded may differ based on local practices and regulations.

Why it’s important

Limitations of standard policies: Standard homeowner’s or renter’s insurance often has limitations on coverage for high-value items, such as jewelry or fine art. A personal articles floater provides additional protection and higher coverage limits for these valuable possessions.
Worldwide protection: It offers peace of mind knowing that your valuable items are protected wherever you go.
Broader perils: It covers a wider range of risks, including accidental damage, which may not be covered by standard policies.
If you own valuable personal items, it’s worth considering a personal articles floater to ensure they are adequately protected. Contact your insurance agent or broker to discuss your needs and explore the available options in your region.