Floating Policy definition
Floating Policy. A marine insurance policy where only the amount of claim is specified and all other details are omitted till the time the ship embarks on its journey, is known as a floating policy. For clients who undertake frequent trips of cargo transportation through waters, this is the most ideal and feasible marine insurance policy.
Examples of Floating Policy in a sentence
Accept a posted vacant position that is available within the same cluster as defined in the Floating Policy.
Floating Policy – a) Single policy covers properties in different localities.