A Personal Articles Floater (aka Jewelry Schedule) is designed to insure items that have higher value, unique characteristics, or that you may be concerned as to how they would be valued in the event of a loss. Your homeowners policy has very limited theft coverage for certain classes of property such as Jewelry, Fine Arts, Collectibles, Silverware, or even Guns. Items that are over the specified limits in the policy can be better protected by scheduling or listing the items in a Personal Articles Floater.
You can also request to insured the items for Agreed Value which allows you and the insurance company to Agree on the Value that you will be paid in the event of a loss. Agreed Value is particularly recommended in those circumstances where a determination of the value after a fire or theft where the item is no longer available – would be difficult to determine. Antiques, Paintings and other collectibles can fall into this category.
The following limits represent the maximum value a standard homeowners will pay for these classes of items in the event of a theft loss:
- Jewelry and Furs: $1,000
- Silverware, Gold, Pewter: $2,500
- Firearms: $2,000
- Stamps, Deeds, Securities: $1,000
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