What is the purpose of Personal Floaters insurance?

Personal Floaters insurance is designed to provide coverage for personal belongings that may be at risk of loss or damage while you are away from your home. This type of insurance typically protects items that are not covered under a standard homeowners or renters insurance policy, especially when they are outside your premises, such as during travel.

Many personal items, such as jewelry, electronics, and sporting equipment, can be covered by this insurance even if they are temporarily away from home. It ensures that you are protected against theft, loss, or damage during activities like travel, where typical homeowners policies may not extend their coverage.

The other options, while related to insurance, do not accurately capture the primary function of Personal Floaters insurance, as they focus on business equipment, commercial properties, or vehicles – none of which fall under the specific provisions of this type of policy.