Search Investopedia

Floater Insurance

Filed Under »
Dictionary Says

Definition of 'Floater Insurance'

A type of insurance policy that covers property that is easily movable and provides additional coverage over what normal insurance policies do not. This can cover anything from jewelery to expensive stereo equipment.
Investopedia Says

Investopedia explains 'Floater Insurance'

Often homeowner insurance will not fully cover some items, but adding a floater assures the homeowner that the full value will be replaced in the event of theft, loss or damage. These insurance policies generally cover one individual item, so if you have several items for which you want full coverage, you will need to get a floater for each.

Related Definitions

  •

    Rider

    A provision of an insurance policy that is purchased separately from the basic policy and that provides additional benefits at additional cost. Standard policies usually leave little ...
    Read More »

  • Insurance

    A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make ...
    Read More »

  • Premium

    1. The total cost of an option. 2. The difference between the higher price paid for a fixed-income security and the security's face amount at issue.3. The specified amount of payment ...
    Read More »

    • Deductible

      1. The amount you have to pay out-of-pocket for expenses before the insurance company will cover the remaining costs.2. An amount subtracted from an individual's adjusted gross income to ...
      Read More »

    • Renewable Term

      A clause in a term insurance contract that allows the beneficiary to extend the coverage term for a set period of time without having to requalify for coverage. A renewable term is ...
      Read More »

    • Commercial Blanket Bond

      A type of liability coverage for employers who want to protect themselves against losses resulting from dishonest employees. Commercial blanket bonds provide blanket coverage for all of ...
      Read More »

    • Wedding Presents Floater

      A type of insurance that can be added to a renter’s or homeowner’s insurance policy to temporarily cover the value of the gifts a couple receives when they get married. The wedding ...
      Read More »

    • Wool Growers Floater

      A type of insurance policy that provides coverage for sheep owners and to warehouse owners who store and transport wool. A wool growers floater is a type of inland marine insurance which ...
      Read More »

Articles Of Interest

Sponsored links
Hot Definitions
Partner Links
Suggested Definitions