What does a scheduled articles floater cover?

What does a scheduled articles floater cover?

A scheduled articles floater covers a listed item against a broader range of perils than a standard homeowners or renters policy, and it removes the dollar caps that a base policy applies to categories like jewelry, watches, and fine art. It attaches to a homeowners or renters policy as an endorsement. For a list of what property categories are typically eligible to schedule, see what items you can schedule on an articles floater.

What perils does a scheduled floater cover that a standard policy does not?

Three features distinguish a floater from base-policy personal property coverage. First, it covers mysterious disappearance: if you simply lose a scheduled ring with no explanation, the floater pays. A standard policy treats a loss without a covered peril as uncovered. Second, coverage under a floater is typically open perils, meaning it covers any cause of loss not explicitly excluded, including accidental damage such as a dropped and shattered item, where a base policy would not respond at all. Third, most floaters carry no deductible on scheduled items, which means a full payout from dollar one.

For example, a photographer in Savannah drops a $3,200 camera lens on a shoot. A base homeowners policy does not cover accidental breakage of personal property. A floater with that lens scheduled covers the repair or replacement in full, with no deductible and no depreciation applied.

How does agreed value work on a scheduled item?

The value is agreed upfront. You and the insurer set the dollar amount at scheduling, typically supported by a recent appraisal or sales receipt, and at claim time there is no depreciation calculation and no dispute over value. Scheduling an item requires documentation. Insurers typically ask for a professional appraisal dated within the last few years, or an original purchase receipt. For items that appreciate over time, such as fine art, certain watches, and estate jewelry, keeping appraisals current protects the agreed value from lagging market prices.

For example, a watch scheduled at $6,000 in 2019 based on an appraisal from that year may carry a current replacement cost of $9,000 today. If the floater still shows $6,000, a claim pays only the scheduled amount. Keeping appraisals current closes that gap.

Whether a floater makes sense depends on what items you own, their total value relative to your base policy sub-limits, and how they are used and stored. For more detail on jewelry appraisal requirements specifically, see our guide on jewelry appraisals in Georgia. For a comparison of how agreed value settlement differs from other methods, see replacement cost vs. actual cash value. A licensed advisor can review your current coverage, identify gaps, and confirm which items are worth scheduling. Request a coverage review to get a clear picture of what your policy covers and where a floater might fill the gap.

For the full picture on scheduling, agreed value, and mysterious disappearance, see the jewelry insurance guide.