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Floater Insurance: Keeping you Walking on Air

A hobby can be a lifesaver and studies have found that enjoying a hobby in your spare time results in a significant reduction of stress. It doesn’t even matter what you’re doing as long as you are relaxed and happy while doing it.[1]  Whether it’s photography, music, biking or painting, our hobbies do more for us than we realize.  But, have you thought about what would happen if your favourite equipment suddenly wasn’t there? If your Yeti Bike was stolen or you didn’t have a surge protector for your Fender Strat? How long would it take you to be able to replace them? Your standard homeowners or tenants’ policy is priced for total loss of your living space, not partial loss, which is why you’ll find yourself paying a full $500 or $1,000 deductible on a claim for the special equipment you’ve invested in, like your Canon EOS Rebel. That’s why there’s floater insurance coverage.

An insurance floater refers to objects that usually are moved from one place to another and your coverage follows them wherever they go.  These policies are the best way to make sure the things you value most are protected and can be replaced without having to pay a deductible. Floater coverages are often as unique as the items they protect and are customized to suit your needs; for example:

  • Jewellery:  Replace your wedding ring if it is stolen or replace a stone if it comes loose
  • Electronics: Protect that big screen TV from damage or power surge
  • Camera equipment: If the lens gets scratched or cracked
  • Collectibles: Protect your most prized possessions from fire & theft

In short, if you care about something and/or carry it with you often, you may want to consider insurance floater coverage.  A hobby is one of the best ways to relax at the end of the day, so make sure you’re always able to enjoy yours even when things don’t go quite right. A Real Insurance broker is a great place to start if you want to find out more about floater coverages and how they might help you, email us at info@josslin.com or call us at 1-888-567-7546. We’re here to help.

[1] Hilton Andersen , Charlotte. “Hobbies Reduce Stress Just as Well as Exercise.” Shape, 22 Apr. 2015, www.shape.com/lifestyle/mind-and-body/hobbies-reduce-stress-just-well-exercise

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