Which statement about Personal Article Floaters is NOT true?

Personal Article Floaters offer coverage for specific items such as jewelry, art, collectibles, and other personal possessions. These policies are designed to protect high-value items that may require more specialized coverage than what standard homeowners or renters insurance provides.

The correct statement regarding coverage is that it applies to a range of risks, including theft, loss, and damage. Therefore, stating that coverage only applies if items are stolen is not accurate, as Personal Article Floaters also protect against other perils, such as accidental damage or loss, regardless of whether the theft specifically occurred.

The flexible coverage limits allow policyholders to adjust their coverage to suit the value of their items. Additionally, Personal Article Floaters typically cover specific items at declared values, ensuring that policyholders have the right amount of coverage for their valuables. The worldwide coverage aspect is significant because it extends protection even when items are taken outside of the United States, accommodating individuals who travel internationally with their possessions.