YOU ASK:

What is the definition of Floater?

WE ANSWER:

A Floater is an attachment to the policy that provides protection for property that is easily movable. A Floater provides additional protection that the standard insurance policy does not cover.

This is commonly used for property insurance such as homeowners' insurance. A person can attach a floater to his standard homeowners' insurance policy in order to provide coverage for pieces such as expensive jewelry, furs, electric appliances such as stereo equipment and musical instruments. These things are easily removed from a person's house.

You may need to specify the property that you want insured, so there may be a need to get a floater for each of the expensive equipment and jewelry you want protected.

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