Chelsea, Massachusetts and surrounding areas Personal Article Floater
Protecting your Valuables – Personal Article Floater
A Personal Articles floater is used to insure valuable personal property that often requires more coverage than what is provided by an insured’s homeowner policy, due to various exclusions and limitations on homeowner coverage. The personal articles floater can be used to insure the several categories of personal property including:
- Jewelry: Most personal jewelry can be included on a floater for additional cost, your property policy typically has a small amount of coverage with restricted perils
- Furs: Same as jewelry.
- Fine Arts: Fine arts can include private collections of paintings, antique furniture, rare books, glasses, ornament knickknacks, and manuscripts. Fine arts are insured on a valued basis which means if a loss occurs, payment would be made for insurance stated in the schedule for that item.
- Cameras: Items usually included are, motion picture recording equipment, projection machines, films, binoculars, and telescopes. Breakage coverage is an option on most floater policies.
- Bicycles: Each item must be described on a schedule with an amount of insurance.
- Musical Instruments: Most personal musical instruments, which includes sound and amplifying equipment, can be listed on a floater. Each item should be listed on a schedule with the requested amount of insurance coverage.
- Silverware / China / Crystal: Item must be listed on a schedule with the amount of insurance.
- Stamps / Coin / and other Collections/ Golf equipment: Typically, these items can be best insured on a floater policy.
- Guns: Each item must be described on a schedule with an amount of insurance.
Floaters are typically written on an all risk basis resulting in broader protection. Most floaters can cover certain property anywhere in the world.
Exclusions: The personal articles form like all policies contains exclusions a common one in most policy types are for wear and tear and deterioration.