Coverage to levels more in line with the value of expensive or irreplaceable items like jewelry, furs, collectibles, or other things.
Floater Policy Purchasing a floater policy and scheduling your individual valuables are part of this process. The most comprehensive coverage for valuables is provided by this insurance option.
Floaters cover any kind of loss, even those that your homeowners insurance policy won’t cover, like when you drop a ring down the drain or leave a pricey watch in a hotel room.
Items intended for coverage must be appraised by a professional before you can purchase a floater.
To ensure that valuations remain current, floater policies should be reviewed every two or three years.
You should also make sure to add any new items, especially those you might get as gifts for birthdays or holidays.
Raise Liability Limits This option is less expensive than purchasing a separate floater policy, but it only provides limited coverage for both individual items and the entire loss.
For instance, the coverage limits for a single item might be $2,000, with a $5,000 total limit.
