What Does Street Clock Floater Mean?
A street clock floater is an endorsement or extra insurance that provides protection for an outside clock. Unless the policy specifically excludes certain risks, the floater offers coverage for all risks, such as theft, loss during transit, and vandalism. Businesses that have a valuable clock attached to their building or on its premises typically opt for this coverage.
Insuranceopedia Explains Street Clock Floater
Floaters are additions to homeowners or business property insurance policies. They offer coverage for items not completely covered by the standard policy, either because they are too valuable or too risky to cover.
A regular business policy would likely cover damages to a street clock on business property if it were destroyed in a fire that damaged the entire property. However, a street clock floater expands coverage and protects the clock in transit and where it is installed.