What does Personal Effects Floater mean? Read on to discover the definition & meaning of the term Personal Effects Floater - to help you better understand the language used in insurance policies.
Personal Effects Floater
Insurance designed for tourists who desire worldwide coverage on their personal effects, which refers to transportable property of the type carried by tourists or travelers. This all risks coverage is sometimes procured by people who travel extensively in their motor homes and who do not have homeowners coverage. Since the personal property coverage in homeowners policies has been expanded in recent decades, personal effects floaters are not as commonly used today as they once were.
We hope the you have a better understanding of the meaning of Personal Effects Floater.