Snowmobile Floater

What Does Snowmobile Floater Mean?

A snowmobile floater is an addendum to a homeowner’s or auto insurance policy that provides coverage for financial losses resulting from a stolen or damaged snowmobile. Alternatively, the snowmobile can be insured under a separate policy.

Insuranceopedia Explains Snowmobile Floater

A snowmobile owner may choose to purchase an insurance policy specifically for their vehicle, which can cover bodily injury to the driver or a third party, among other risks.

Alternatively, if the owner already has a homeowner’s or auto insurance policy, they can add a floater to the existing coverage. This is the same idea behind a personal property floater, which extends coverage to specific high-value items that fall outside standard policy limits. This floater protects the snowmobile against loss, damage, or theft. One significant advantage of a floater is that the insurer does not restrict coverage to a specific location, meaning the snowmobile is covered whether it’s parked in a home garage or stationed at a snow park.

Before adding the endorsement, it’s worth reviewing what your homeowners insurance policy covers by default, since recreational vehicles are often excluded or only partially covered under base personal property limits. If you’re shopping around, comparing the best homeowners insurance companies can help you find a carrier that offers snowmobile floaters at a reasonable rate.