floating policy
- noun
- /ˈfloʊtɪŋ ˈpɑlɪsi/
- Specialized
:
póliza flotante
- Unlike a standard fire insurance policy, a floating policy protects items wherever they are located.
Examples
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She took out a floating policy to insure her valuable antiques no matter where they were kept.
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A floating policy provides coverage for jewelry and art no matter where they are in the world.
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A floating policy is ideal for travelers who own expensive jewelry or equipment.
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I purchased a floating policy for my jewelry.
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Do you have a floating policy for your valuable items?
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With a floating policy, you can ensure that your high-value items are protected at all times.
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Many people choose a floating policy to cover their prized possessions while traveling.
Synonyms
1
8.0
An insurance policy that covers valuable items like jewelry or cameras wherever you take them
Surface Forms
Morphology
The meaning 'an insurance policy for movable property' is directly and compositionally derived from 'floating' (movable, not fixed) + 'policy' (insurance certificate). Although somewhat technical, the sense follows standard noun-noun composition and is inferable by a B1 learner who knows the constituent meanings; similar formulations exist cross-linguistically in insurance vocabularies.
Etymology
The noun floating policy comes from the image of insurance that 'floats' with your things: floating suggests moving from place to place and policy is the insurance that follows them. That's why a floating policy 'covers movable items' like jewelry or equipment no matter where they are.