If you have a homeowner or umbrella policy to cover your personal possessions at home and away, you may still need a rider (or floater policy) for those expensive, unique or one-of-a-kind items, for expensive collectibles and for other irreplaceable items like estate jewelry, etc.

You can buy a rider to cover furs, silverware, art and other things you own and store in your home or business. 

While your standard policy may cover a necklace for $1,000  dollars, you probably want to cover the appraised value of your great-great-great grandmother’s gem blue topaz broach, so that if it is ever lost, you can at least recover the value of the piece. 

This coverage includes theft and/or loss (meaning you just plain misplaced the thing), and there is no deductible. 

Your standard policy will have limitations on claims related to the following items. 

If you own any of these items, you will need a specific policy for that item and/or a rider on your homeowner’s policy to ensure that you are covered in case of theft, damage or other loss.  

Ø      Money

Ø      Original or classic artwork

Ø      Antique furniture or collectibles

Ø      Valuable papers, original manuscripts, securities, or stocks and bonds

Ø      Business property

Ø      Silverware, fine china or exotic antiquities

Ø      Old books, original editions

Ø      Firearms

Ø      Jewelry

Ø      Furs

Ø      Classic cars

Check your policy or talk to your agent to find out what is covered under your current policy, or check the ‘Personal Property, Special Limits of Liability’ section of your policy. 

With a rider (also known as a floater or endorsement) you can insure the appraised value of an item up to the full value, with no deductible, so you will be fully covered in the event of loss.