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
business property floater, transferable property insurance, commercial real estate insurance, 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.
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