What are personal property floaters?

Personal property floaters are designed to provide blanket coverage for personal property, meaning they cover a wide range of personal belongings without the need to itemize individual items. This type of coverage is particularly beneficial for individuals who have items that may frequently change in value or locations, such as jewelry, art, and electronics.

These floaters extend beyond typical home insurance policies, which can have limitations and exclusions for certain types of personal property. By having blanket coverage, a policyholder can ensure that their belongings are protected against various risks, such as theft, loss, or damage, regardless of where they happen to be. This flexibility distinguishes personal property floaters from other types of coverage that may focus on specific valuable items or liability issues.