Commercial Property Floater
Definition
- A floater attached to a commercial property insurance policy that covers property not fixed to a single location. For example, a construction company could use a commercial property floater to provide coverage for tools and equipment located on-site. Alternatively, a caterer could use a commercial property floater to cover cooking and serving equipment.
Synonyms
transferable property insurance, commercial real estate insurance, business property floater, movable insurance policy, floating insurance
Related Terms and Acronyms
- Commercial Property — Definition,
- A parcel in a district zoned for business.
- Commercial Property Insurance — Definition,
- Property insurance that provides coverage for damages to commercial property due to named perils such as fire or theft.
- Conditional Sales Floater — Definition,
- Insurance that covers losses on property sold conditionally or on an instalment plan.
- Floater Insurance — Definition,
- Insurance that covers assets not commonly covered by an existing policy such as electronics or jewelry.
- Property Insurance — Definition,
- Insurance that provides coverage for damages to property from a number of perils.
