What is Jewelry and Fur Floaters?
Jewelry and fur floaters (also called inland marine or valuables floaters) are specialized insurance policies that cover high-value personal or business property while it’s off the insured premises. These policies are designed for items that move frequently or are exposed to unique transit exposure, such as jewelry shown at trade events, furs transported between stores, or inventory taken on consignment.
Who needs it
Retailers, wholesalers, traveling salespeople, furriers and jewelers commonly buy floaters to protect merchandise in transit, at temporary locations, or while on display. Clubs, event organizers, and tradeshow operators may also seek this coverage when handling exhibitors’ valuable property. A small business with high-value stock or an individual dealer who transports inventory regularly will typically look to this type of policy to fill gaps left by standard property insurance.
What it typically covers
Floaters generally provide broader protection than standard property policies. Typical coverages include:
- All-risk protection for loss or physical damage from theft, fire, vandalism, and accidental mishaps
- Transit coverage for goods moved by commercial carrier or personal vehicle
- Temporary location coverage for trade shows, galleries, or demonstrations
- Specified peril or scheduled coverage based on agreed valuations and appraisals
Policy forms may be tailored with endorsements for valuation methods, pair and set clauses, or coverage while items are on consignment.
Common exclusions or limitations
While floaters are broad, they commonly exclude certain risks or require endorsements for full protection. Typical exclusions or limits include wear-and-tear, mysterious disappearance without proof, nuclear hazards, and sometimes flood or earthquake unless added. Some policies limit coverage for unattended vehicles or items left in plain view, and pair-and-set clauses can reduce recoverable value for partially damaged sets.
Factors that influence cost
Underwriting factors affecting premiums include declared value and appraisal quality, past loss history, security measures (safes, alarm systems, secure transport procedures), transit frequency, and the distance or mode of transportation. The type of coverage chosen—agreed value versus actual cash value—and deductible levels also change price. Risk management steps such as locked cases during transit and certified appraisals can lower rates.
Proof of insurance & compliance
Insureds often need certificates or evidence of insurance for consignment agreements, exhibitions, or mall leases. Lenders or event organizers may require specified limits and wording. If you work with consignors or vendors, keep up-to-date appraisals and documentation of security procedures to support claims and meet contractual requirements.
For related guidance on block policies and coverage tailored to furriers or jewelers, see the Furriers Block Policy at https://completemarkets.com/Furriers-Block-Policy-Insurance/Storefronts/ and explore the Jewelers and Furriers Block Insurance page at https://completemarkets.com/Jewlers-and-Furriers-Block-Insurance/Storefronts/ for industry-specific considerations. Smaller retailers and individual dealers may also find relevant information on Furs/Furrier Insurance at https://completemarkets.com/Furs-Furrier-Insurance/Storefronts/.
How to get a quote
When you’re ready to compare options, gather recent appraisals, inventory lists with values, descriptions of transport and storage practices, and loss history. Talk to a broker or underwriter who specializes in inland marine or valuables coverage, and be prepared to review policy wording and exclusions carefully. If you want an easy next step, you can ask your agent for a tailored quote.
Frequently Asked Questions
Do floaters cover items in my personal vehicle?
Often yes, but coverage can be limited for items left unattended or not stored securely; check your policy’s transit provisions and vehicle exclusions.
How is the value of jewelry or fur determined?
Values are typically based on recent appraisals, receipts, or agreed schedules; some policies use agreed value endorsements to avoid depreciation disputes.
Can I get coverage for items on consignment?
Yes—many floaters include consignment coverage but may require specific wording or certificates naming the consignor and the terms of the arrangement.
Still have questions? Talk to a local insurance expert.