Personal Articles Insurance Floater Law and Legal Definition

Personal articles insurance floater is an insurance policy normally used to insure certain scheduled personal property on an all-risks basis. The policy is particularly appropriate for property that receives limited coverage under the homeowner’s forms, such as furs, priceless art work, expensive jewelry, silverware, cameras, musical instruments, stamp and coin collections, and similar property. Such a policy affords higher coverage limits and protects against the causes of loss not covered on a homeowner’s policy.

The term “floater” means just that; the policy “floats” or travels with your items of value. Many personal articles floater insurance program provide worldwide coverage, which means that items listed in the insurance policy can be covered wherever they are in the world