pearl necklace, securing coverage for high-value belongings

How to Protect Your Valuable Personal Possessions

Securing coverage for high-value belongings.

While the personal property coverage offered by standard homeowners insurance policies is typically enough to protect the assets of the average homeowner, this isn’t the case when you own high-value items.  This is because standard home policies place coverage limits on your personal property coverage.  If you own expensive or unique items such as fine art, jewelry, antiques, electronics, collectibles, and so on, then these items will likely exceed your coverage limits.  Fortunately, you can secure the additional personal property protections that you need with personal floater policies.  Read on to learn more about securing coverage for high-value belongings.

What is floater insurance?

Floater insurance is a type of policy that offers homeowners personal property coverage that extends beyond what standard home policies provide.  Typically, homeowners secure different floaters to protect different types of belongings.  For instance, you might have one floater policy to protect your jewelry, another to protect expensive electronics, and another to protect things like firearms.  In many cases, floater policies will provide coverage without any deductibles.  However, these policies are not standardized across insurers, so you need to ask your coverage provider for details about the specifics of your policy.

What to know about your policy?

Floater policies can work differently depending on the type you have.  Some policies will impose a blanket limit, which is the most that they will pay for any one loss.  Others will specify the amount of coverage they will offer for each item insured under the floater.  If cost is a concern for you, then you should choose a policy that imposes a lower blanket limit.  If securing maximum coverage is a bigger concern for you, then securing a policy with a defined limit per item is the better way to go.

These are some of the things that you should know about securing coverage for high-value belongings.  Do you have additional questions regarding your home coverage?  If so, then contact the experts at Tri-Star Insurance/HUB International in Plano, Texas.  Our dedicated team is eager to assist you with all your coverage needs today.