Elementary Insurance Agency

What is a Personal Article Floater Policy? A personal article floater policy is independent coverage, where an endorsement is added to a homeowners policy and covers valuable property. Typically, the item(s) require more coverage than the current homeowners policy limit. The majority of homeowners policies insure everyday belongings, including appliances and furniture in the event of a natural disaster or robbery. Items like jewelry, antiques and computers may be covered, however the pay out may not cover the replacement costs. This is why a personal article floater policy is put in place, so the insured is able to replace the item when an unfortunate event occurs. What items are covered under a Personal Article Floater policy?  A personal article floater policy covers items that the homeowners policy does not. In a homeowners policy, these items are granted limited coverage, so having a personal article floater policy lets the insured get the replacement cost covered. This policy ...