Standard renters policies cap jewellery theft at $1,000–$2,000 total — and an engagement ring alone blows through that. Floaters fix it for surprisingly little.
What needs scheduling
- Engagement and wedding rings: the classic floater item.
- Watches: anything past $1,000.
- Cameras and instruments: professional gear exceeds standard electronics treatment.
- Art and collectibles: standard policies handle these poorly; floaters allow agreed value.
- Bikes over ~$1,500: many insurers schedule them.
How floaters work
A scheduled personal property endorsement lists each item with an appraised or agreed value, removes the theft sublimit, and — crucially — usually covers mysterious disappearance (lost, not just stolen), which standard policies exclude. Cost runs $1.50–$2.50 per $100 of value annually: a $5,000 ring costs roughly $75–$120 a year.
Frequently Asked Questions
How much jewelry does renters insurance cover?
Typically $1,000–$2,000 total for theft of jewellery and watches — shared across all items. Anything above that needs a scheduled floater.
Does renters insurance cover a lost ring?
Standard policies cover theft but not losing an item. Scheduled floaters usually cover mysterious disappearance — the main reason rings get scheduled.
How much does a jewelry floater cost?
Roughly $1.50–$2.50 per $100 of appraised value per year — a $6,000 ring runs about $90–$150 annually, with no deductible in most cases.
Do I need an appraisal to schedule jewelry?
For items over ~$2,000–$5,000, yes — insurers want a recent appraisal or receipt. Below that, a detailed description and photo often suffices.