Legal Definitions - drummer floater policy

A drummer floater policy is a type of insurance policy that was historically used to cover the goods carried by a commercial salesperson while traveling. It is a type of floating policy that covers property that frequently changes in quantity or location, such as jewelry.

For example, if a jewelry salesperson travels to different locations to sell their products, they may have a drummer floater policy to protect their inventory while in transit. This policy would cover any losses or damages to the jewelry during transportation.

Overall, a drummer floater policy is a specific type of insurance policy that provides coverage for property that is frequently on the move.