Personal Articles Floater: Insuring Jewelry, Art & Valuables

Check your homeowners or renters policy declaration page. You will find sub-limits that cap what the policy pays for certain categories of items:

• Jewelry, watches: $1,000-$2,500 total (all items combined)
• Firearms: $2,000-$5,000
• Silverware: $2,500
• Fine art: $2,500-$5,000
• Collectibles (coins, stamps): $1,000-$2,500
• Electronics: $5,000
• Cash: $200

If you own a $15,000 engagement ring and your jewelry sub-limit is $1,500, the most your homeowners policy will pay is $1,500. The other $13,500 is your loss.

What a Floater Covers That Homeowners Does Not

• Full appraised value: Agreed value, no depreciation, no sub-limits
• Zero deductible: Most floaters have no deductible at all
• Worldwide coverage: Covered at home, traveling, anywhere in the world
• Accidental loss: Dropping a ring, spilling wine on art, bumping a sculpture
• Mysterious disappearance: Item is gone and you do not know how (not covered by most homeowners policies)
• Breakage: Cracking a gemstone or breaking a collectible

What Items Should Be Scheduled?

Consider a floater for any single item or collection worth more than your policy sub-limit:

• Engagement and wedding rings
• Fine watches (Rolex, Omega, etc.)
• Fine art and sculptures
• Antiques and heirlooms
• Musical instruments (especially professional-grade)
• Camera equipment (professional photographers)
• Firearm collections
• Wine collections
• Sports memorabilia and collectibles
• Designer handbags
• Fur coats

How to Get a Floater

1. Get items appraised: Professional appraisal within the last 2-3 years
2. Contact your agent: Most carriers offer floaters as an add-on to your homeowners policy. Standalone policies are also available
3. Provide appraisals and photos: The insurer needs documentation of each scheduled item
4. Review agreed values: Make sure the insured amount matches or exceeds the appraised value
5. Update regularly: Reappraise items every 3-5 years. Jewelry and art values fluctuate

Floater vs. Blanket Coverage

Two approaches to insuring valuables:

• Scheduled (itemized): Each item listed individually with its own appraised value. Best for high-value individual items. Requires appraisals but provides exact agreed-value coverage
• Blanket (unscheduled): One coverage limit for an entire category (all jewelry up to $25,000). No appraisals needed, but has per-item caps (usually $5,000-$10,000 per item) and may not cover the full value of your most expensive pieces

For most people, a combination works best: schedule your highest-value items individually and use blanket coverage for less expensive pieces.

Tips for Protecting Valuables

• Keep appraisals, receipts, and photos in a fireproof safe or cloud storage
• Update your home inventory when you acquire new items
• Notify your agent when you buy, sell, or receive valuable items
• Use a home safe for jewelry (may qualify for a premium discount)
• Take photos of items being worn or displayed for documentation

Get Your Valuables Covered

A personal articles floater is one of the most affordable and valuable insurance products available. An independent agent can add one to your existing homeowners policy or find a standalone option that covers your specific items.