What is the Definition of Floater?

What is the Definition of Floater?

Attached to a homeowners policy, a floater insures movable property, covering losses wherever they may occur. Among the items often insured with a floater are expensive jewelry, musical instruments and furs. It provides broader coverage than a regular homeowners policy for these items.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Floater?

What is the Definition of Floater?

You can find random definition and meaning of insurance terms below:


Meaning of Pre-Existing Condition in Insurance Terms

(1) According to most group health insurance policies, a condition for which an individual received medical care during the three months immediately prior to the effective date of her coverage. (2) According to most individual health insurance policies, an injury that occurred or a sickness that first appeared or manifested itself within a specified period—usually two years—before the policy was issued and that was not disclosed on the application for insurance.


Meaning of Preferred Provider Organization in Insurance Terms

Network of medical providers which charge on a fee-for-service basis, but are paid on a negotiated, discounted fee schedule.


Meaning of Preferred Risk Class in Insurance Terms

In insurance underwriting, the group of proposed insureds who represent a significantly lower than average likelihood of loss within the context of the insurer’s underwriting practices. Contrast with Declined risk class, Standard risk class and Substandard risk class.


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