Personal Articles Policy In Massachusetts

What is a Massachusetts Personal Articles Policy?

A personal articles insurance policy is a floater policy that provides comprehensive coverage for your most valuable items. It works by allowing you to schedule these items on your homeowner’s policy. 

When it comes to items like antiques or other unique possessions, these typically have different coverage limits under your primary homeowner’s or renter’s insurance policy. With a personal articles insurance policy, you can go beyond that coverage to fully protect your special belongings. 

All items listed within the policy will be covered for theft, misplacement, loss, and anything other than what is specifically excluded. Causes like wear and tear will usually not be part of the coverage. 

So if one of the listed items is lost or stolen, you may get either the item’s cash value or a replacement depending on the item and your policy. For antiques like art collections, these are usually paid through cash, as it is hard to find a replacement for them.

With a personal articles insurance policy, you can go beyond the coverage of your basic homeowner’s policy or renter’s policy to protect your “special” belongings. All items listed within the policy will be covered for theft, misplacement, loss, and anything other than what is specifically excluded. Causes like wear and tear will usually not be part of the coverage.

Suppose your item is lost or stolen, and it is listed under the personal articles policy, you may get either the item’s cash value or a replacement depending on the item and your policy. For antiques like art collections, these are usually paid through cash, as it is hard to find a replacement for them.

Why Do I Need a Personal Articles Policy?

High-value items often don’t have sufficient coverage with a traditional homeowner’s policy. A personal articles policy provides your scheduled items with worldwide coverage and breakage coverage. 

Most homeowner’s insurance policies provide coverage for personal belongings up to a specific amount, usually about $2,500. Some may also allow you to insure valuable items, but only to predetermined intervals. Thus, personal articles insurance policies add protection for possessions worth more than this amount. 

For example, if you have jewelry worth $5,000, and it’s stolen, you will only get back $2,500, if that is your policy’s limit. However, if the stolen items were listed in your personal articles policy, you will get back its full value of $5,000.

Who Are Personal Articles Policies For?

Anyone who needs additional insurance for possessions of value can benefit from a personal articles floater policy. If you own any valuable objects, it will be highly advisable as it protects your possessions from loss situations. 

Regardless of what items these may be or how many you may own, you can benefit from this insurance policy as long as their value exceeds your regular insurance coverage limit.

Items A Personal Articles Policy May Protect

Personal articles insurance can protect a range of your belongings, and the list can be extensive based on the provider you choose. Take note that if you want to take out this policy, your items’ value must exceed the limit of your regular homeowner’s or renter’s policy.

Here are some of the most common personal articles listed in these kinds of policies:

1. Equipment

Things like your camera equipment, sports equipment or memorabilia, computers, gadgets, musical instruments, and other similar items are covered within the policy.

2. Antiques and Collectibles

If you own any antique furniture, art pieces, and family heirloom or have an extensive collection of items like coins, stamps, figurines, and wine, these can also be covered by a Massachusetts Personal Articles Policy.

3. Health Objects

Your personal article policy can protect health devices or objects like hearing aids, wheelchairs, medical devices, blood pressure calculators, or other similar items.

4. Keepsakes

Perhaps you have keepsakes or mementos such as travel souvenirs, jewelry, or tokens of remembrance from loved ones. This type of insurance will also cover these valuables. 

What If I’m Not At Home?

You may be wondering: Do your valuables have to be at home to be covered by the personal article policy? No, they do not. Personal article insurance is a floater policy, which means that it “floats” and travels with your items, no matter where you bring them. 

Regardless of whether you leave them at home or bring them with you places, these items will be covered by the policy as long as they are listed.