Insurance Policy Floater Definition
A floater refers to an insurance policy that covers property that is easy to move.
Insurance policy floater definition. The sum assured covers the entire family and can be used in case of multiple hospitalizations in the family. Floater policy an inland marine property insurance policy that covers personal property wherever it may be within the policy territory. Also known as a. In many cases floater insurance covers various personal belongings such as jewelry expensive stereo equipment surgical equipment agricultural equipment etc.
A floater policy is insurance protection that covers movable property and other items moved from one place to another and not usually covered by standard policies. In other words it is additional coverage from property that may not necessary remain at all times in the covered property. A family floater policy is a health insurance plan which covers the entire family on the payment of a single annual premium.
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