Why do some clients need a Personal
Articles Floater? Simply put, a standard homeowner policy is not set up to cover
a large collection or a single high value piece (or both) sufficiently. Lower
coverage limits, deductibles, and a smaller peril pool mean too many insured
discover too late that they just didn't have enough insurance through their HO
policy. A Personal Articles Floater is designed to offer
higher coverage limits as well as protect against the causes of loss not
covered on a homeowners policy. Our product features:
• Worldwide coverage for items not protected under other policies
• Larger schedule
• Expensive jewelry not excluded
• Significant discounts (alarm, safe)
• Can insure valuables without a deductible
Insurance can't cover the sentimental loss when items go missing
or get damaged, but with the right coverage, the financial value can be
protected. Additionally, a jewelry claim on a Personal
Articles Floater does not impact the homeowner policy.
The Personal Articles Floater on Big
"I" Markets offers customized products and services for
commercial and personal inland marine fine art and valuable articles. Coverage
is available for museums, galleries, private dealers and corporate collections
as well as private fine art collections, jewelry, fine wine, silverware,
musical instruments, antiques and any collectible imaginable. This program
offers many specialized features designed for all types of risks that will
appeal to even the most discerning collector, regardless of risk size. The
carrier's in-depth knowledge of both personal and commercial exposures allows
them to underwrite diverse risks resulting in policies that are individually
tailored to meet the unique needs of your insureds.
Working with a specialty company that understands the unique elements of these
risks leads to the most competitive pricing, considerably broader and more
flexible coverage than your standard homeowners insurer, and expert claims
handling.
Special items warrant special coverages and terms not commonly found in
standard policies, offering the following coverages and unique features:
• All risks of physical loss or damage
• Worldwide coverage, including transit
• Valuation options to meet individual risk needs
• No per-item limitations
• Newly acquired property coverage
• No deductibles
• Optional buy-back for recovered property
• Legal liability coverage for objects in your care, custody or control
Claims are processed in-house and are assigned to one of expert
adjusters from a tight network of specialists in the US. These specialists then
work directly with your insured guaranteeing privacy and utmost discretion in
adjusting the claim. This high-profile network of adjusters gives your clients
access to a host of niche industry specialists to aid in the claims process
such as:
• Fine art, collectible and jewelry appraisers
• Specialty jewelers
• Collectible societies
• Conservation and restoration specialists
• Auction houses
• Museums and gallery curators
• University historians and experts for unique items
• Curating services for collectors
Policies are written on an admitted basis. The carrier is rated
A XV by A.M. Best. The Personal Articles Floater is
available on Big
"I" Markets in all states (except AK & HI) for personal lines.