1. What factors determine the need for unscheduled jewelry floater coverage in homeowners insurance?
Understanding Unscheduled Jewelry Floater Coverage in Homeowners Insurance
Jewelry is one of the most valuable items in many people’s homes, so it’s important to protect them from theft, fire, or other losses. Homeowners insurance can provide an extra layer of protection for jewelry and other valuable items, through something called an Unscheduled Jewelry Floater.
What is an Unscheduled Jewelry Floater?
An Unscheduled Jewelry Floater is a specialized coverage often added onto homeowners insurance that offers protection for jewelry and other valuable items, such as watches and antique pieces. By purchasing an Unscheduled Jewelry Floater, you can make sure that your most precious items are protect in case they are lost, stolen, or damaged.
Why would I Need Unscheduled Jewelry Floater Coverage?
The standard homeowners insurance policy limits repair or replacement coverage for expensive items like jewelry, art, and antiques. Purchasing additional Unscheduled Jewelry Floater coverage allows you to set a more realistic coverage for these items, usually for what you paid for them or their current value. Without this coverage, you would be stuck having to replace these items at the limits set by your insurance policy.
What Does an Unscheduled Jewelry Floater Cover?
An Unscheduled Jewelry Floater typically covers the following items:
- Jewelry: diamond rings and other precious stones, platinum, gold, and silver jewelry
- Watch: designer and antique watches
- Antiques: furniture, art, collectibles
- Electronics: computers, TVs, cameras, and sound systems
The exact coverage and limits vary depending on the individual policy.
How much does Unscheduled Jewelry Floater Cost?
The cost of Unscheduled Jewelry Floater coverage depends on the specific items being covered and the limits set on the policy. Generally, the cost is a percentage of the total coverage limit, with lower limit items costing less and higher limit items costing more.
Where Can I Get Unscheduled Jewelry Floater Insurance?
Unscheduled Jewelry Floater coverage can be purchased as an addition to an existing homeowners insurance policy. Contact your local insurance provider to find out more about adding this type of coverage to your policy.
With Unscheduled Jewelry Floater coverage, you can make sure that your most valuable items are protected should they are lost, stolen, or damaged. This is an important layer of protection for jewelry, watches, antiques, and other valuable items.