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Personal Article Floater or Blanket Coverage? Family Heirlooms and Special Gifts Deserve Special Protection

pocketwatch-minOur most valuable possession is usually our home. There is no question that you plan to take out an insurance policy to cover it for the many hazards it can face. Weather accidents, floods and property mishaps can easily happen but it’s not just the structure of your home that’s so vulnerable and valuable. Your precious contents and possessions inside deserve protection too. The holidays have brought us many cool gifts and they all have a value.

Valuable Items Blanket Coverage is an endorsement that can be added to your homeowners or renters policy. This blanket coverage can add a layer of protection for jewelry, electronics, dinnerware and more and the typical range is $10,000-15,000.

Homeowners or renters insurance can cover a significant amount of personal property. However, if you own special items that are worth more than the blanket limits and you want to be covered for more than just the basic types of loss, then you should consider buying a dedicated “floater” or personal article policy. This type of policy names or “schedules” the specific item and normally requires an appraisal for the proper amount of coverage.

Why Insurance for Your Valuables?

A basic renters, condo, or homeowners insurance policy will cover your personal property anywhere in the world but may have restrictions when it comes to valuable items that are stolen. Especially if those items are stolen when away from the property, there is a common exclusion called an off-premises theft exclusion. Jewelry, furs, silverware, and firearms are covered for the typical named perils such as: fire, lightning, explosion, riot, vehicle or aircraft damage up to the contents limit or Coverage C limit, except when it comes to theft.  Your basic policy only provides an average of up to $1,500 theft coverage for jewelry, watches or furs, $2,500 for theft of firearms, and $2,500 for theft of silverware on premises.   In order to have more theft coverage, a change endorsement or policy is needed.  When you buy a blanket or a dedicated personal articles floater policy you can often get coverage for more causes of loss such as breakage or even if item is lost (mysterious disappearance).

What items can be covered?

  • Cameras & Electronics
  • China, Crystal and Silverware
  • Fine arts & Heirlooms
  • Firearms
  • Furs
  • Jewelry and Furs
  • Musical Instruments

Typical personal property coverage does not cover missing pieces, but a dedicated policy can. For example, you are washing your hands in the kitchen sink and the diamond in your wedding ring falls out and goes down the drain. You call a plumber but you’re unable to recover it. A personal articles floater  may help cover the cost to replace the diamond if you have the right type of policy.

Peace of Mind is a Gift

It may seem like you have plenty of coverage but for those special, and particularly valuable items, you may need an extra level of protection. Whether it is jewelry or your family silverware set, you want to make sure you have the coverage you need to help replace those items if something happens to them. A Personal Article floater policy can do just that—and provide peace of mind at a reasonable cost.


Please call your trusted Hometown Insurance Agent at 1-800-568-SAVE (7283) or contact us by email at for helpful information.

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