Floater Insurance

Definition

• An insurance policy that covers the value of items not normally covered by existing property insurance including movable property like jewellery or electronics. Typically a floater will be used to provide coverage for one specific item, so multiple policies may be needed to provide full coverage.

Synonyms
movable insurance policy, floater policy, floater, insurance floater

Related Terms and Acronyms

• Blanket Insurance — Definition,
  • A form of insurance that covers multiple different classes of property with one policy. Homeowner's insurance, for instance, not only covers damages to the insured home, but also the contents of the home.
• Broad Form Insurance — Definition,
  • Insurance that covers rare events not normally covered in an existing insurance policy.
• Chattel — Definition,
  • Personal property that can be moved.
• Chattel Mortgage — Definition, Important,
  • A loan backed by movable personal property. Generally mobile or trailer homes.
• Commercial Property Floater — Definition,
  • Insurance that provides coverage for property that is not fixed to one single location.
• Commercial Property Insurance — Definition,
  • Property insurance that provides coverage for damages to commercial property due to named perils such as fire or theft.
• Conditional Sales Floater — Definition,
  • Insurance that covers losses on property sold conditionally or on an instalment plan.
• Consignment Insurance — Definition,
  • Insurance for assets on loan, consignment, in transfer of ownership, or up for auction.
• Homeowners Insurance — Definition,
  • A policy that includes hazard coverage, covering loss or damage to property and/or assets located within, as well as coverage for personal liability and theft.
• Insurance (insur) — Abbreviation,
  • An arrangement where one party provides financial protection to another party for specific damages or losses.
• Multiline Insurance Policy — Definition,
  • A combination of different insurance policies that are rolled into a single insurance policy.
• Personal Property (PP) — Acronym,
  • Property that is movable and not permanently attached to a dwelling or structure.
• Property Insurance — Definition,
  • Insurance that provides coverage for damages to property from a number of perils.
• Umbrella Insurance — Definition,
  • Insurance used to cover different types of property in a single policy.
• Wool Growers Floater — Definition,
  • Insurance that covers those who own, store, or transport sheep and wool.