Floater Insurance

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.

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RELATED FAQS
  1. Does renters insurance cover jewelry?

    Renters insurance provides personal property coverage that covers your personal property – including jewelry – in case of ... Read Full Answer >>
  2. Why might landlords require renters insurance?

    Landlords can require renters insurance to lower their own liability and insurance costs. According to data from the Insurance ... Read Full Answer >>
  3. I know there is a form of deposit insurance where a portion of my bank account deposits ...

    First things first, it's only partially correct to think that a portion of your bank deposits is protected. The Federal Deposit ... Read Full Answer >>
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