In which case would a Personal Articles Floater NOT provide coverage?

A Personal Articles Floater is designed to provide coverage for individual items of personal property, offering protection against various risks. The reason that wear and tear from use does not qualify for coverage under this type of policy is that these policies are not intended to cover routine maintenance issues or depreciation of items due to normal usage over time. Coverage typically excludes losses that arise from the natural deterioration of the item, promoting a clear distinction between accidental damage and the expected decline in value or functionality from regular use.

On the other hand, scenarios such as loss of an item that cannot be recovered, theft from the insured's car, or damage caused by a flood are generally covered under a Personal Articles Floater, as these situations are considered unexpected and beyond the control of the policyholder. Such cases align with the principles of insurable risks, which emphasize protection against sudden and accidental losses rather than the inevitable consequences of usage.