“Why Is It Called a Floater?”—And No, Your Necklace Isn’t Swimming
So, you’ve probably googled, “is my jewelry floating on the ocean?” (spoiler: it’s not—though that’d be quite the story), here comes Inland Marine Insurance. In insurance lingo, a floater is just a cool-sounding term for coverage that “floats” wherever your prized possession goes—whether that’s across town, around the globe, or to your favorite café.
Enter the term “inland marine insurance”, a historical throwback to when insurance was all about sea voyages. Fast-forward to today, and it’s shorthand for special protection for your movable valuables—think jewelry, art, cameras—not boats or pirates. Yep, pirates had nothing to do with it, though the theme is fun.
Get Your Floater (Without Getting Seasick) — B&A Benefit Solutions Has You Covered – Inland Marine Insurance
If you’re nodding along thinking, “Okay, I need this kind of coverage… like, yesterday”, you’re in luck.
B&A Benefit Solutions offers Personal Article Floater coverage so your jewelry, art, collectibles, and gear are protected—wherever life takes you.
Whether you’re globe-trotting with a camera, wearing your grandmother’s diamond ring, or displaying priceless art at a gallery, this coverage “floats” right along with your treasures.
And if you have questions like…
- What exactly do I need covered?
- Is agreed value or replacement cost better for me?
- Can I add this to my current insurance?
…you don’t have to navigate those waters alone. The Insurance Ladi and the team at B&A Benefit Solutions are ready to help you understand your options, get you the right policy, and make sure you’re covered against life’s “oops” moments.
📞 Call B&A Benefit Solutions today : (203) 565-6419
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Why Is It Called a “Floater”?
The term floater comes from the historical concept of “floating” coverage—property that moves or isn’t confined to one location. Although it’s called “marine,” inland marine insurance evolved from ocean marine (sea) insurance, adding “inland” as coverage extended onto land. The “floater” name stuck, even though there’s nothing nautical about the property itself.
Historical Origins of Inland Marine Insurance: From Sea to Land
- Marine insurance began centuries ago to cover cargo and ships, tracing back to practices like the Rhodian Sea Law (~1000–800 BCE) that allowed losses of jettisoned cargo to be shared among merchants
- By the 14th century in Italy, written marine insurance contracts emerged, expanding throughout Europe
- As trade advanced, insurers extended coverage beyond the docks to cargo over land. To reflect this expanded scope, the term inland marine insurance was coined
- In the 19th century, inland marine grew to include telegraphs, railroad equipment, and other movable property. In the U.S., a Nationwide Marine Definition was created in 1933 to categorize what qualifies as inland marine
- The “floater” label stuck because the insured property “floated”—was not anchored to one place. Although ironic now, it has endured in industry jargon
What’s Covered? (Hint: Some of It Could Be Pricier)
With a Personal Article Floater, you get open-perils or “all risks” coverage—unless stated otherwise, you’re covered. This basically means your items are protected from more perils than your average homeowner’s policy—even things like accidental loss or mysterious disappearance.
Here’s what’s covered:
- Jewelry, luxury handbags, furs
- Fine art, antiques, rare books
- Cameras, electronics, musical instruments
- Stamp, coin, and collectibles
- Sporting equipment, silverware, vintage gear
Most of the time, there’s no deductible—so if disaster strikes, you’re closer to a clean slate.
Settlement Options: How Do You Want Inland Marine Insurance Reimbursed?
Two main flavors here:
- Replacement Cost: You get a similar item—not exact, but close—minus depreciation.
- Agreed Value: You and your insurer set the value up front. That’s your payout, no depreciation. Usually comes with a premium.
Is the Property Actually Floating?
Nope! The term is figurative. Personal Article Floaters are for items that move or accompany you—like at a photoshoot, concert, or exhibition—not physically floating on water.
Pirates? What’s the Connection?
There’s no direct link to boating or piracy. The link lies solely in the marine terminology’s historical roots. Modern inland marine insurance has nothing to do with boats or sea travel—just movable, valuable property.
Your property security. Your peace of mind. Our priority.
For trusted insurance solutions and personalized support, contact:
Inesta Belardo – Licensed Health Insurance Agent
📞 203-565-6419 | ✉️ bna@insuranceiswhatwedo.com
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