An addition to a homeowner's insurance or renter insurance policy providing coverage in the event of loss, theft or damage to one's jewelry. Some jewelry floaters give cash for a claim, while others simply pay to replace the jewelry. A jewelry floater is important because many homeowner's insurance and renter insurance policies do not cover damage or loss of jewelry, and pay a low amount for theft. As with all insurance, one must pay a periodic premium in exchange for coverage.
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