Snowmobile Floater
What Does Snowmobile Floater Mean?
A snowmobile floater is an addendum to a homeowner’s or auto insurance policy that provides coverage for financial losses resulting from a stolen or damaged snowmobile. Alternatively, the snowmobile can be insured under a separate policy.
Insuranceopedia Explains Snowmobile Floater
A snowmobile owner may choose to purchase an insurance policy specifically for their vehicle, which can cover bodily injury to the driver or a third party, among other risks.
Alternatively, if the owner already has a homeowner’s or auto insurance policy, they can add a floater to the existing coverage. This floater protects the snowmobile against loss, damage, or theft. One significant advantage of a floater is that the insurer does not restrict coverage to a specific location, meaning the snowmobile is covered whether it’s parked in a home garage or stationed at a snow park.
