Florida Insurance Licensing Practice Exam

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Which of the following would be excluded under a personal articles floater on an 'all risks' basis?

  1. Insects destroy a valuable postage stamp worth $500

  2. A personal art collection on display at a museum show is stolen

  3. A sophisticated telescope is damaged in a fire

  4. All of the above

The correct answer is: Insects destroy a valuable postage stamp worth $500

A personal articles floater on an 'all risks' basis would generally cover accidental damage or loss to valuable items such as jewelry, fine art, and collectibles. However, in the case of insects destroying a postage stamp, the damage is not caused by an accidental event but rather a natural occurrence. Therefore, it would not be covered under a personal articles floater on an 'all risks' basis. Option B is incorrect because it specifically mentions theft, which is typically covered under this type of insurance. Option C is also incorrect as it describes accidental damage to a valuable item, which would be covered under the policy. Option D is incorrect as it includes all of the above options, which are not all excluded under a personal articles floater on an 'all risks' basis.

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