Commercial Property Floater

What Does Commercial Property Floater Mean?

A commercial property floater is an insurance add-on that offers coverage for various types of commercial property that is not confined to a single location. It is particularly beneficial for businesses with movable property, such as a traveling circus. Typically, commercial property floaters serve as a supplement to standard commercial property insurance policies. Knowing how the main types of commercial property insurance handle property at a fixed address makes it easier to see where a floater needs to step in.

Insuranceopedia Explains Commercial Property Floater

Not all businesses operate from a fixed location, but many standard commercial property policies only cover a fixed structure and its contents. This limitation makes commercial property floaters essential for companies with movable property. Without this type of insurance, businesses like circuses and others that frequently transport property would face significant risks during their travels. Tradespeople with portable gear run into the same issue, which is why some pair a floater with a tools and equipment policy so the items they take from job to job stay covered. Therefore, companies with multiple locations and movable assets can benefit from combining a standard commercial property insurance policy with a commercial property floater.