Personal Article Floater
An endorsement scheduling high value items for stated amounts above normal policy sublimits.
Overview
Standard contents coverage caps theft of jewelry at around 1,500 dollars total and other categories even lower, so a 12,000 dollar engagement ring is underinsured without scheduling. Floaters cover classes such as jewelry, furs, cameras, musical instruments, silverware, fine art, coins, and sports equipment, charging by appraised value and risk: a flute kept at home costs less to insure than one toured internationally. Coverage is typically all risk worldwide, sometimes including mysterious disappearance, with no deductible option. Insurers want recent appraisals, usually within one to three years, and updated values over time, since market value and documented worth decide disputes at claim time.
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