Personal Articles

About Personal Articles Coverage

Personal articles floaters originated from the National Association of Insurance Commissioners' 1933 Nationwide Marine Definition, which allowed inland marine carriers to insure movable valuables like jewelry, furs, and art outside of standard fire policies.¹

When HO-3 homeowners forms debuted in the 1950s, they introduced theft sublimits as low as $1,500 for jewelry, pushing families to schedule items through personal articles floaters to obtain agreed values, worldwide territory, and mysterious disappearance coverage.²

Fast-forward to 2024: Jewelry prices up 8% year over year and watches up 5%, so Rockland County collectors need schedules that keep pace with auction results and private sales rather than outdated appraisals.³

Coverage Highlights

Scheduled personal property policies attach agreed values to each item so mysterious disappearance, breakage, or theft becomes a straightforward claim.

• Jewelry & Watches: Worldwide, no-deductible coverage for rings, loose stones, and high-end timepieces beyond the homeowners theft sublimit.¹
• Fine Art & Collectibles: Provides agreed values, transit protection, and pairs-and-sets treatment so a single lost earring or damaged sculpture is reimbursed in full.²
• Musical Instruments & Professional Gear:  Covers performances, rehearsals, and travel, filling the gap when airline handling damages a touring kit.³
• Mysterious Disappearance & Breakage: Pays even when the cause of loss is unknown or involves accidental damage, protection unavailable in standard homeowners forms.⁴
• Newly Acquired Items: Automatic coverage windows (often 30-90 days) keep impulse buys protected until appraisals are updated.⁵
• Blanket & Inflation Guard Options: Watch and wine collections can share a single higher limit with automatic value adjustments, avoiding per-item scheduling when inventories rotate.⁶

Rising Costs

Luxury jewelry costs have risen by 8% and handbags up 12% year over year, meaning existing schedules can be undervalued by tens of thousands of dollars if appraisals lag.¹

Jewelers' Security Alliance recorded 1,878 crimes against U.S. jewelers in 2024 with dollar losses up 17%, highlighting the elevated theft exposure insurers price into scheduled jewelry.²

FBI JAG data indicates multi-city burglary crews now target luxury watches and designer goods, often reselling via online marketplaces, so underwriters scrutinize storage, alarm, and travel habits before quoting.³

Cheaper Premiums

• Keep appraisals current: III recommends updating valuations every 2-3 years so you neither overpay for outdated limits nor trigger coinsurance penalties.¹
• Invest in UL-rated safes & central station alarms:  Jewelers' Security Alliance notes that insurers credit TL-15/TL-30 safes plus monitored alarms because they drastically reduce theft severity.²
• Use bank vault or secure off-site storage: NAIC guidance highlights lower premiums when seldom-worn items are kept in vaults rather than at home.³
• Consider deductibles or blanket schedules: Chubb notes that high-limit collections can lower premium by accepting a modest deductible or using blanket coverage for lower-value pieces.⁴
• Maintain detailed inventories: III encourages photo inventories and receipts, which speed claims handling and may qualify you for documentation credits.⁵

What We Do

We document appraisals, purchase documents, photos, and security details for every scheduled item, then market with our carriers that understand fine collections to secure the best coverage at competitive premiums. As your collection grows or market values shift, we can review your policy to keep your coverage aligned with your needs.