Definition - What does Theatrical Floater mean?
A theatrical floater is a type of insurance coverage for props, equipment, costumes, and other materials used for plays or theatrical productions. It provides coverage for fire, windstorm, lightning, explosion, theft, and smoke. It also covers such risks as flood, collapse of bridges, vehicle derailment or damage, stranding and sinking of vessels, and aircraft crash.
A theatrical floater is also referred to as a theatrical property floater.
Insuranceopedia explains Theatrical Floater
A theatrical floater does not cover buildings, furniture, and other items not directly used in a theatrical production. However, the insured does not need to won the items to have coverage. They may be borrowed, held in trust, on consignment, or even still in transit for delivery to the owners.