Personal Property Floater
Coverage for all personal property, regardless of location of an insured and household residents, including children away at school. Written on an all risks basis, subject to excluded perils such as war, wear and tear, mechanical breakdown, vermin, and nuclear disaster. "Personal property" includes clothing, television, musical instruments, cameras, jewelry, watches, furs, furniture, radios, and appliances. Coverage can be extended to damage of real property as the result of theft of personal property.
Popular Insurance Terms
Insurance protection written in the form of a single line policy. ...
Plan that combines a profit sharing plan with a money purchase plan. It permits the participant to maximize the flexible part of the combination (profit sharing plan) after satisfying the ...
Policy that pays benefits to an insured who becomes ill or injured, provided that documentation is offered to confirm the illness or injury. ...
Abbreviation for premium payment. It usually applies to a limited number of annual premium payment policies such as a ten-day policy. ...
Beneficiary's choice, in a life insurance policy or annuity, for receiving income payments for a given period of time. The number of payments are fixed by the payee; the benefit amount is ...
Required minimum amounts of coverage that an insurance company will underwrite. For example, for auto liability coverage the minimum that many companies will write is $25,000. Most ...
Element of a life insurance policy permitting the policy owner to change a beneficiary as frequently as desired unless the beneficiary has been designated as irrevocable. Here the written ...
Property and/or liability coverage for a municipality. Municipalities are responsible for maintenance of through ways as well as a myriad of public services. Liability insurance for ...
Authority of states to tax the insurance companies they regulate. States levy income taxes, real and personal property taxes, and special levies, the most important of which is a premium ...
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