What is Floater Insurance?
A floater insurance policy covers specific, highly prized possessions at an agreed-upon value. Homeowners policies do cover the contents of your home, but in some cases there may be some debate as to the actual value of a given item. When you purchase a floater insurance policy, you specify which objects or items you want to be covered and, with the help of a third-party appraiser, the value of that item is set. The policy provides full replacement value in the event of loss, theft, damage, or mysterious disappearance. One of the primary advantages of floater insurance through JVM Insurance is that our coverage is worldwide. In addition, the typical deductible on floater insurance is $0.
Beauty is in the Eye of the Beholder
What are some objects that might warrant floater insurance coverage? The answer will vary from person to person, depending on what it is that they value. Here are some examples, though:
- A coin collection
- A baseball card collection
- A record collection
- A rare art collection
- An antique silver set
- Treasure jewelry
- Stock certificates
- Oriental rugs
- A letter signed by a dignitary
- And much more
Whatever items that you treasure and would be heartbroken to lose, those are the items that you should consider protecting with a floater insurance policy.
Our friendly JVM Insurance agents will answer all of your questions about what it makes sense to cover with a floater insurance policy, and explain exactly how it works. Sometimes you may think you need this coverage, but our friendly agents will discover that what you wish to cover with floater insurance already is fully covered in another policy you have. We’ll help you sort it all out so you have enough coverage, but none that you don’t need.