Floating Policy (Noun)
Meaning
An insurance policy covering loss of movable property (e.g. jewelry) regardless of its location.
Classification
Nouns denoting communicative processes and contents.
Examples
- The jewelry store owner purchased a floating policy to protect against theft or loss of valuable items that were frequently transported to and from different locations.
- Her floating policy provided worldwide coverage for her diamond engagement ring, so she didn't have to worry about it getting lost or stolen while traveling abroad.
- The insurance company offered a floating policy specifically designed for people who worked with expensive equipment or valuable items on a daily basis.
- As a freelance photographer, he needed a floating policy to cover his cameras and equipment while on shoots in different locations.
- The family heirloom, a priceless necklace, was covered under a floating policy that allowed them to take it to family gatherings and events without worrying about it getting lost or stolen.