What basis do personal article floaters provide coverage on?

Personal article floaters provide coverage on an "all risks" basis, which means they typically cover losses from a wide range of causes unless specifically excluded in the policy. This type of coverage is designed to insure high-value items such as jewelry, fine art, and collectibles, recognizing that these items may be exposed to various risks not covered by standard homeowners or renters insurance policies.

By ensuring items on an all risks basis, personal article floaters offer policyholders broader protection, allowing for claims for any loss or damage occurring from unforeseen events, rather than being limited to specific perils named in the policy. This flexibility is essential for individuals with valuable possessions that could be at risk from many threats.

This understanding of personal article floaters highlights the importance of choosing the right type of coverage to match the needs of the policyholder, ensuring comprehensive protection for their prized items.