What would a personal property floater typically be used for?

A personal property floater is specifically designed to insure personal belongings with a broader range of coverage compared to standard homeowners or renters insurance policies. While typical policies may have limits on certain categories of personal property or exclude specific types of risks, a floater allows for coverage of items on a broader scale, including valuable articles like jewelry, art, and collectibles, which may be subject to limitations in standard policies.

This type of insurance offers protection against a wide variety of risks, including theft, loss, or damage, regardless of where these items are located, which is essential for individuals with high-value items. Therefore, the focus on insuring personal belongings for broader coverage accurately captures the primary purpose of a personal property floater.

While wear and tear, liability protection, and loss of use expenses are important aspects of personal insurance, they do not specifically pertain to the function of a personal property floater, making the correct choice clear.