What is the purpose of Personal Articles Floater Policies?

Personal Articles Floater Policies are specifically designed to insure valuable items on an individual basis, rather than under a generic policy that might cover household items. These policies are particularly useful for items that require specialized coverage due to their high value, such as jewelry, art, musical instruments, and collectibles.

The key aspect of a Personal Articles Floater is that it provides broader coverage compared to standard homeowners insurance. Standard policies may have limits on the amount of coverage for specific items, which can leave the insured under-protected. A floater allows the policyholder to specify each valuable item, ensuring that it receives appropriate coverage against risks like theft, loss, or damage.

This specialized approach is essential for individuals who possess valuable items that exceed the coverage limits set by typical homeowners insurance. By choosing this type of policy, the insured can ensure that they receive adequate protection tailored to their specific needs.