A Policy protecting individuals as fare paying passengers of a scheduled aircraft from destination to destination including while entering or coming out of aero plane. It is generally obtained at airports.

That portion of the balance of a bank account which the bank still shows as being in that account even though a cheque or other instrument payable from that account, has been negotiated. Float occurs during the interval of time between the negotiations of the instrument and its clearance and debiting against the account.

An inland marine form covering movable property wherever located within territorial limits.
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UK: An item on moveable property with a sum insured that moves with the goods to wherever the property is located within a range of locations. The item ‘tops up’ sums insured designated to specific locations when those sums insured become temporarily inadequate. The floater is subject to the two conditions of average and assists an insured whose distribution of goods across premises varies over time. See FLOATING POLICY.
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Property Insurance on moveable property, whatever its location within the territorial limits of the Policy. The coverage “floats” with the property. Generally there is a territorial limit and coverage is provided at any location within that territory.

Insurance on a movable piece of property, for example, a boat. The insurance is valid regardless of where the property moves, as long as it is within an area established in the contract.

In consideration of floater extra charged over and above the policy rate the sum insured in aggregate under the policy is available for any one, more, or all locations as specified in respect of movable property.

Can be issued subject to a minimum sum insured of Rs. 2 crores and compliance with rules for Fire Insurance, Floater policy and Declaration policies. Minimum retention however be 80% of the annual premium.

To cover stocks lying in various godowns in the same city or village or in different towns, villages/cities and for which the insured in not able to declare the exact value at each place separately but is sure of the total value in all the godowns. Floating policies are issued with a single sum insured covering goods at more than one locations. Only on stock in trade subject to location of each godown to be declared. The rate shall be the highest rate applicable to insured’s stock at any location with a floater extra loading of 10%. In case stocks in a process block are covered and the rate for the process block is higher than the storage rate, the process rate plus 10% loading shall apply. Kutcha construction to be ignored.