Simple English definitions for legal terms
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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.