MANAGEMENT

Detailed explanation-1: -Floater insurance is a type of insurance policy that covers personal property that is easily movable and provides additional coverage over what normal insurance policies do not. Also known as a “personal property floater, ” it can cover anything from jewelry and furs to expensive stereo equipment.

Detailed explanation-2: -Personal floater insurance, or PAF, is a type of coverage on a stand-alone policy that provides insurance coverage for items beyond the personal property covered on your homeowners or renter’s policy. The “floater” part of this coverage refers to items that are easily movable.

Detailed explanation-3: -Jewelry is considered Personal Property. Most policies provide Named Perils coverage for Personal Property. Simplistically, this means there is a list of perils named in the policy form that apply to loss of Personal Property. Losing a diamond or its mysterious disappearance is not on that list.

Detailed explanation-4: -What Is Fire Insurance? Fire insurance is a form of property insurance that covers damage and losses caused by fire. Most policies come with some form of fire protection, but homeowners may be able to purchase additional coverage in case their property is lost or damaged because of fire.

Detailed explanation-5: -What Is a Commercial Property Floater? A commercial property floater is a rider that is attached to a commercial insurance policy to protect property that a company doesn’t store at a fixed location. For example, a construction company may want to guard equipment it owns that it uses at various sites.