Unscheduled Property Floater
What Does Unscheduled Property Floater Mean?
An unscheduled property floater is an add-on to a property insurance policy that provides coverage for certain types of property that are not itemized. It generally offers protection against loss, damage, or theft in exchange for an additional premium. This differs from a scheduled property floater, which lists each covered item individually along with its specific value.
Insuranceopedia Explains Unscheduled Property Floater
To understand the term “unscheduled property floater,” it’s important to first define “unscheduled property” and “floaters.”
- Unscheduled property refers to items covered under a primary insurance policy but not individually listed, described, or valued. In a home insurance policy, this can include items like jewelry, furniture, clothing, and more.
- A floater is an additional policy that provides extra coverage for movable property.
An unscheduled property floater, therefore, extends coverage to a specific category of property without itemizing individual items or assigning specific values. For instance, it might cover all chairs a policyholder owns without specifying or listing each one individually.
