Glossary

Floater

Coverage that insures listed movable items, such as jewelry, art or cameras, at stated values wherever they go, free of a standard policy's low limits.

Also called: personal articles floater, PAF, valuables floater

A floater insures particular items of movable property, listed with a value for each, wherever they are. The name comes from the idea that the coverage "floats" with the property instead of staying at the home. Typical scheduled items are engagement rings and watches, fine art, cameras, musical instruments, silverware and collectibles.

A floater fills a gap. A standard policy's personal property coverage caps theft of jewelry at a low amount, $1,500 in the 2011 ISO HO-3, and may exclude mysterious disappearance. Say you own a $9,000 ring: unscheduled, a theft claim could be limited to the cap, while scheduled at $9,000 the full value is insured. Floaters generally cover loss from most causes, including accidental loss, and many carry no deductible or a small one. ISO's newer 2022 forms raise the jewelry theft limit to $2,000 (as filed in North Carolina, effective June 1, 2027), but most policies in force still use the 2011 form or an insurer's own.

You can buy one as an endorsement to your homeowners policy, such as the ISO scheduled personal property endorsement, or as a standalone personal articles policy. Both usually require a recent appraisal or receipt. Update the schedule when values rise, and ask whether the item is paid at the scheduled amount or repaired or replaced.

See the guides to scheduling jewelry, art and valuables and jewelry insurance: homeowners rider or standalone policy?.

Last reviewed October 11, 2026

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Related terms

Scheduled personal property Individually listed valuables, such as jewelry, art and collectibles, insured for a stated amount each, with broader protection than standard contents coverage. Endorsement A written change attached to a policy that adds, removes or alters coverage, limits or conditions, and controls over the base form wherever the two conflict. Rider A form added to a policy to change its coverage; in homeowners insurance, an everyday word for an endorsement such as scheduled jewelry or water backup. Special limits of liability Low dollar caps on categories such as cash, jewelry, firearms, silverware and business property that apply no matter how high your belongings limit is. Personal property (Coverage C) Coverage for the movable things you own, such as furniture, clothing, electronics and tools, whether they are at home or elsewhere in the world.

Related guides

Endorsements, riders and floaters: what the words mean An endorsement is a written change to your policy, a rider is slang for one, and a floater insures listed items. How to read each on your declarations page. Insuring art, collectibles and wine Why a homeowners policy undercounts art, coins, cards and wine, how appraisals and valuation work, and what to ask before you schedule a collection. Jewelry insurance: homeowners rider or standalone policy? A jewelry rider adds scheduled items to your homeowners policy; a standalone policy is separate. Compare deductibles, claims reporting, travel and cost. Moving: insuring two homes and your things in transit How to time homeowners coverage on the old and new house, what your policy covers during the move, and what a mover's liability does and does not pay. Scheduling jewelry, art and valuables How scheduled personal property coverage works: what a schedule lists, how items are valued and paid, whether a deductible applies, and when to update it. Special limits on jewelry, firearms, cash and collectibles A standard HO-3 caps jewelry theft at $1,500, firearms at $2,500 and cash at $200. See every sublimit, how a theft plays out, and how to close the gap.

Related tools

Valuables coverage checker Compare what you own in jewelry, firearms, cash, boats and business property with the special limits in a standard homeowners policy and see what to schedule.