What does Scheduled Property Floater mean? Read on to discover the definition & meaning of the term Scheduled Property Floater - to help you better understand the language used in insurance policies.
Scheduled Property Floater
A scheduled property floater is an insurance add-on that can cover certain specific or "scheduled" items for specific amounts. It is commonly used to supplement a standard homeowner's policy and extend coverage to certain personal property. This is because many standard homeowners' policies do not have scheduled coverage for a number of items in a home. Scheduled property floaters often come as separate policies or endorsements to a homeowner's policy.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Scheduled Property Floater. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: