{"id":4721,"date":"2023-10-04T18:55:36","date_gmt":"2023-10-04T18:55:36","guid":{"rendered":"https:\/\/www.fisdom.com\/glossary\/floater-policy\/"},"modified":"2023-10-04T18:55:36","modified_gmt":"2023-10-04T18:55:36","slug":"floater-policy","status":"publish","type":"post","link":"https:\/\/www.fisdom.com\/glossary\/floater-policy\/","title":{"rendered":"Floater Policy"},"content":{"rendered":"

A floater policy, also known as a “floating policy” or “umbrella policy,” is a type of insurance policy that provides coverage for multiple items or individuals under a single policy. It is commonly used in health and property insurance to cover multiple family members or various assets with a single policy, making it a cost-effective and convenient option for policyholders.<\/p>\n

What are the types of floater plans in India?<\/h2>\n

A few popular floater plans in India are,<\/p>\n

Family Floater Health Insurance – One of the most common types of floater policies in India, it covers all family members under a single policy, ensuring that medical expenses are shared among family members. If one family member needs medical care, the coverage can be utilised from the common pool.<\/p>\n

Home Insurance Floater – In property insurance, a floater policy can cover multiple assets within a home, such as a furniture, appliances, jewellery, and electronics, under a single policy. This offers comprehensive protection against various risks, including theft, fire, and natural disasters.<\/p>\n

Personal Accident Floater – This type of floater policy provides coverage for accidents involving multiple insured individuals, such as a family, in the event of injuries, disability, or death resulting from an accident.<\/p>\n

What are the benefits of Floater Policies?<\/h2>\n

Simplicity – Managing a single floater policy is more convenient than dealing with multiple individual policies. It simplifies the insurance process.<\/p>\n

Cost Savings – Floater policies often come with lower premiums compared to insuring each item or individual separately, making them cost-effective.<\/p>\n

Comprehensive Coverage – Floater policies provide comprehensive coverage, ensuring that all insured entities are protected against various risks.<\/p>\n

<\/h2>\n","protected":false},"excerpt":{"rendered":"

A floater policy, also known as a “floating policy” or “umbrella policy,” is a type of insurance policy that provides coverage for multiple items or individuals under a single policy. It is commonly used in health and property insurance to cover multiple family members or various assets with a single policy, making it a cost-effective […]<\/p>\n","protected":false},"author":30,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[27],"tags":[],"class_list":["post-4721","post","type-post","status-publish","format-standard","hentry","category-insurance"],"_links":{"self":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/4721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/comments?post=4721"}],"version-history":[{"count":0,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/4721\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/media?parent=4721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/categories?post=4721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/tags?post=4721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}