Sentences with phrase «normal limits on your policy»
Essentially, a floater is an additional coverage for a high - priced category of an item that exceeds the normal limits on your policy.
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Homeowner policy endorsements typically limit coverage on losses caused by a failure to maintain the property or things considered normal wear and tear.
On the other hand, a package such as excess liability coverage can provide additional coverage or supplemental liability protection, giving your business coverage beyond the normal limits offered by standard policies.
Most policies will reimburse you the full difference between your additional living expenses and your normal living expenses; however, there is a limit on the total amount an insurer will pay or eligibility time limits for ALE payments.