What is the definition of Personal Articles Floater?
A Personal Articles Floater is a policy or an endorsement to a policy where personal articles inside an insured home is also covered or protected with insurance.
Normally, a standard insurance policy will not cover valuable items that are easily removed from a house. This includes jewelry, furs, electric appliances, silverware, musical instruments, valuable collections (coins, stamps, comic books, etc.) and other personal valuables.
A person with a homeowners' policy will have to get each of these items insured. A floater will have to be issued for each article that the homeowner would like to insure. When covered, the insurance company will pay for the loss or damage of these items due to a covered risk (like theft or fire).
To determine the value of the articles and thus get the right amount of insurance for these, it is best that the items be appraised by a qualified appraiser.
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- Personal Injury Protection Coverage (PIP)
- Personal Lines
- Point-of-Service Plan
- Policy
- Policy Dividend Options
- Policyholders’ Surplus
- Political Risk Insurance
- Pollution Insurance
- Pool
- Pre-Existing Condition
- Period Certain
- Peril
- Per Stirpes Beneficiary Designation
- Per Capita Beneficiary Designation
- Pension
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- Payout Options
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- Participating Policy
- Partial Disability