Personal Effects Floater

Updated: 09 June 2023

What Does Personal Effects Floater Mean?

A personal effects floater is a type of insurance coverage that insures personal property for people who are traveling. It can cover laptops, suitcases, jewelry, clothes, or other personal items people take with them while on a trip. Personal effects floaters can come in the form of a specified risk or open peril policies.

Insuranceopedia Explains Personal Effects Floater

Tourists or other people who travel frequently commonly purchase personal effects floaters as means of insuring items precious to them that may easily become lost, damaged, or stolen while on a trip. However, people who own mobile homes and do not have a homeowner’s policy sometimes may find them useful as well.

Personal effects floaters are not as widely used in the property insurance market today as they once were. This is due to increases in coverage options for personal property under homeowner’s policies. However, it is still be a viable option for travelers, especially those who take many expensive items with them.

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