So, you’ve got an Amazing Fantasy #15 comic book—the first appearance of Spider-Man—locked safely away in your home. You know it could be worth tens of thousands of dollars, but have you ever wondered what would happen if it was lost, stolen, or damaged in a disaster? Unfortunately, many people don’t realize that their standard home insurance policy may not fully cover valuable items like this.
Over time, we collect or inherit valuable items like rare comic books or antique watches. While homeowner’s or renters insurance may cover them, most policies have limits—usually around $1,500—varying by insurer. If your valuable item is worth more, you may find yourself underinsured, leaving a gap in coverage.
For example, if you own a watch worth $10,000, but your policy only covers up to $1,500, you’d have an $8,500 gap in protection. So, how do you ensure these prized possessions are fully covered?
The answer is a “floater” policy.
A floater is an additional coverage option that allows you to insure specific items of value. It’s especially important for items that are more likely to be damaged or stolen, such as jewelry, art, or collectibles. Think of a floater as an extension of your insurance policy that provides protection for items that “float” away easily—whether it’s a valuable painting, your favorite watch, or a rare comic book.
What Types of Items Should You Consider Adding to a Floater?
- Watches and jewelry (engagement rings, necklaces, etc.)
- Art and rare collectibles (comics, antiques)
- Furs and high-end clothing
- Expensive electronics
- Historical documents
Even if you don’t have a rare comic book or a vintage fur coat, any valuable item that you can’t afford to lose should be considered for additional coverage.
Have Questions? We’re Here to Help!
If you’re unsure whether your home or renters insurance covers your valuable items, or if you need advice on adding a floater to your policy, the experts at G&G Independent Insurance are ready to assist. Call us today to ensure your most valuable possessions are fully protected.
