Do You Have a Personal Articles Floater?

As insurance agents, we have heard it all. For this post on personal articles floaters; however, one story sticks out the most.A few years ago, one of our agents attended an out of town wedding. Since the wedding was in a small town, there weren’t too many choices for lodging. So, most of the guests stayed at a small motel near the interstate. This is where the story turns bad.While the guests were all attending the rehearsal dinner, several of the rooms were burglarized. Of course, many of the ladies brought expensive jewelry to wear on the big day. The burglar probably thought he had come across a pot of gold!Though a good night for the burglar, it was not so much for the wedding guests. The next day didn’t improve either. When the guests called their insurance companies to report the burglary and to file a theft claim, the vast majority were disappointed with the news they heard on the other end of their phones.Why’s that? Well, standard homeowners insurance in Atlanta only covers up to $1,500 for the theft of jewelry. Some had many times that amount stolen.One of two things happened. Either their agents never informed them about this limitation, or they simply didn’t bother properly structuring their policy to cover their needs because they thought it was too much trouble or too much money. We can tell you one thing, it would have cost much less for them to properly insure their jewelry than to replace it all!They needed a personal articles floater. This is a type of coverage that can be added to your current homeowners insurance policy. Items that may need this additional protection include:•    Jewelry•    Cameras•    Computers•    Artwork•    Musical Instruments•    Golf Equipment•    Firearms•    SilverwareBe sure to inquire about what you need to do to obtain a personal articles floater. Just call Risk & Insurance Consultants at 404-459-5975.