1. Insurance Terms & Definitions/
  2. Insurance Terms Starting With F

Floater Policy

What is a Floater Policy?

A Floater Policy may refer to an insurance policy that provides coverage for the movement of goods from one location to another. This type of policy is typically used for businesses that transport products, such as truckers, car haulers, and other transportation companies. The coverage is designed to provide protection for the goods in transit, as well as cover the cost of any damage or loss that may occur while in transit.

Floater Policy in More Detail

In essence, a Floater Policy is a form of inland marine insurance coverage. This type of policy is designed to cover the cost of goods that are in transit from one location to another, such as between a warehouse and a customer’s location. The policy can provide protection for the goods while in transit, as well as cover the cost of any damage or loss that may occur during transport.

The Floater Policy typically covers the goods as they are in transit and can provide coverage for a variety of risks, such as theft, fire, accident, and other perils. The policy may also provide coverage for any cargo that is loaded or unloaded, as well as any damage that may occur while the goods are in transit.

In addition to providing coverage for the goods in transit, the Floater Policy may also provide coverage for any additional costs associated with the transport. This may include the cost of additional labor, equipment, or supplies necessary for the transport of the goods.

The Floater Policy is an important form of insurance coverage for businesses that transport goods. It provides coverage for the goods in transit, as well as any additional costs associated with the transport. By providing coverage for the goods, the Floater Policy helps to ensure that any losses or damages incurred during transport are covered.

Post Views1K