Do you own certain items which are special or carry a high monetary value? Are they items that may also appreciate in value or be a one of a kind item?
Your homeowner’s insurance policy may not provide you sufficient limits or broad enough coverage for certain personal items such as jewelry, silverware, furs, guns, paintings or other artwork. Many of these items have maximum limits insured under most homeowner’s insurance policies from $500 to $2,500. You determine the value of the items to insure or can submit an appraisal of the item.
The limitation is the amount usually provided by the homeowner’s policy is not the only shortcoming for insuring special items. Additional types of risk or perils can be insured under valuable floater coverage such as worldwide coverage, mysterious disappearance, and expand the policy to include claims arising from breakage. If you accidently damage a fragile item by dropping it or it falling off a shelf or wall, it is covered. Many of the valuable article floater policies usually have no deductible.
Any personal items which you want the broadest type of coverage should be considered for a valuable articles floater policy.