Sign Floater Insurance
Definition - What does Sign Floater Insurance mean?
Sign floater insurance is a rider added to business property insurance policies so that they include coverage of a sign (which might bear the business name or feature its products or services) that is within the vicinity of the building or attached to it. The coverage applies not only when the sign is placed at or near the business location but also when it is moved.
Insuranceopedia explains Sign Floater Insurance
Floater insurance covers items that can be moved from one place to another, such as paintings of furniture. The item is covered whether it is moved or remains in a single place. Businesses often purchase sign floater insurance to cover their signs for loss and damages.
Since signs are usually custom-made, they tend to be expensive. Because they are located outside the business' building, they are also susceptible to theft or vandalism, especially if it has easily damaged parts like neon lights. Sign floater insurance protects these valuable but vulnerable assets.