What Does Commercial Property Floater Mean?
A commercial property floater is an insurance policy add-on that provides insurance protection for various types of commercial property that does not remain at one specific location. It is useful for companies who have property that moves, such as a circus. Commercial property floaters are typically a supplement to a standard commercial property policy.
Insuranceopedia Explains Commercial Property Floater
Not all businesses operate out of one fixed location. However, many standard commercial property polices only provide coverage for a fixed structure and its contents. This is why companies who have movable property need commercial property floaters. If this type of insurance did not exist, then circuses and other companies who constantly move their property wouldn’t be able to travel around without being exposed to substantial risks. Thus, a company with multiple locations as well as movable property would likely benefit from a standard commercial property insurance policy and a commercial property floater.