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.

BREAKING DOWN '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 TERMS
  1. Cover Note

    A temporary document issued by an insurance company that provides ...
  2. Total Insurable Value

    Total insurable value is the value of property, inventory, equipment, ...
  3. Jewelry Floater

    An optional addition to a homeowners insurance policy that protects ...
  4. Scheduled Personal Property

    Additional coverage that's over and above the typical coverage ...
  5. Full Reporting Clause

    Full reporting clause is an insurance policy provision requiring ...
  6. First Dollar Coverage

    An insurance policy feature that provides full coverage for the ...
Related Articles
  1. Insurance

    What Is and Isn't Covered by Homeowners Insurance

    Understanding what your insurance covers can be confusing. Learn what almost all insurance policies have in common so you're prepared if disaster strikes.
  2. Insurance

    6 Types Of Insurance Coverage You Didn't Think You Needed

    These different types of insurance coverage can be beneficial, but they're often overlooked and misunderstood.
  3. Insurance

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
  4. Insurance

    The Importance Of Property Insurance

    Property insurance is important, but there's a lot you need to learn in order to get the proper coverage.
  5. Insurance

    Insurance Coverage: A Business Necessity

    Don't go to work without this policy in place - especially if your work is in your home.
  6. Financial Advisor

    How To Insure Non-Traditional Assets

    You acquire these assets to hedge against financial turbulence in conventional investment markets. What's the best way to protect them?
  7. Managing Wealth

    6 Insurance Policies That Protect the Wealthy

    Here are six types of insurance that the wealthy use to protect their assets.
  8. Investing

    What are Floating-Rate Notes?

    A floating-rate note is a debt instrument with an interest rate that “floats,” or varies. They are also called floaters.
RELATED FAQS
  1. What are some examples of industries that practice price discrimination?

    Understand the various types of insurance coverage offered in the insurance marketplace, and learn why each policy should ... Read Answer >>
  2. How does the 80% rule for home insurance work, and how do capital improvements affect ...

    The 80% rule refers to the fact that most insurance companies will not fully cover the cost of damage to a house due to the ... Read Answer >>
  3. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
Hot Definitions
  1. Trickle-Down Theory

    An economic idea which states that decreasing marginal and capital gains tax rates - especially for corporations, investors ...
  2. North American Free Trade Agreement - NAFTA

    A regulation implemented on Jan. 1, 1994, that eventually eliminated tariffs to encourage economic activity between the United ...
  3. Agency Theory

    A supposition that explains the relationship between principals and agents in business. Agency theory is concerned with resolving ...
  4. Treasury Bill - T-Bill

    A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations ...
  5. Index

    A statistical measure of change in an economy or a securities market. In the case of financial markets, an index is a hypothetical ...
  6. Return on Market Value of Equity - ROME

    Return on market value of equity (ROME) is a comparative measure typically used by analysts to identify companies that generate ...
Trading Center