Scheduled Property Floater

What Does Scheduled Property Floater Mean?

A scheduled property floater is an insurance add-on designed to cover specific or “scheduled” items for designated amounts. It is commonly used to supplement a standard homeowner’s policy by extending coverage to certain personal property. This is necessary because many standard homeowners’ policies do not provide coverage for certain items in the home. Scheduled property floaters typically come as separate policies or endorsements to a homeowner’s policy, offering more comprehensive protection for valuable items.

Insuranceopedia Explains Scheduled Property Floater

An alternative to unscheduled property floaters, which provide a general level of coverage for various types of personal property, scheduled property floaters can be a valuable risk-management tool for individuals who own high-value items, such as luxury goods and jewelry, stored in their homes. For instance, a policyholder with jewelry worth tens of thousands of dollars, rare works of art, or other expensive personal property may find it worthwhile to pay an additional premium for a scheduled property floater. This provides extended coverage with specific limits tailored to protect these valuable items. Homeowners weighing this decision sometimes look at how a personal property floater compares, since the broader version may be enough for households without a few standout high-value items. Coverage limits and rules for adding scheduled items vary widely between insurers, which is one of the things to check when comparing the best homeowners insurance companies.