Tips on insurance quotes for valuables

If you are worried about your expensive laptop, camcorder or digital camera getting lost or stolen, you may want to consider getting floater insurance quotes. Floater insurance covers the personal expensive items in your home that you don't always keep at home, ranging from jewelry and furs to all types of electronic equipment. These items may not always be fully covered -- or covered at all -- by typical homeowners or renters insurance policies.

A floater policy will cover items not only lost in a disaster or theft, but even if you should accidentally lose or break the item.

What will a floater policy cover?

• Electronics (personal computers, laptops, cameras, camcorders).
• Collectibles (coins, stamps, fine art, antiques, firearms).
• Housewares (china, crystal, silverware).
• Recreational equipment (musical instruments, golf clubs)

Before you buy

• Decide what you'd like to insure. Floater insurance policies often cover just one item; if you want more than one valuable insured, you will have to get several policies.
• Save all bills and receipts. If the item is new, save your bill of sale -- your insurance agent will need this record in case you need to file a loss claim.
• Have all information handy on the item. Count on your insurance agent asking specific questions about the item, including the market value and replacement cost, serial number, and other information.

Many large insurance companies such as The Hartford, Liberty Mutual and Travelers Insurance offer floater insurance coverage. If you should suffer a loss, this insurance will usually cover the actual cash value of the item, or the cost to replace your item. Do your homework to find out the exact loss settlement.

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