When providing Floating Policy service, the insurer issues a contract that specifies the type of cargo to be transported within a certain period of time, the type and limit of coverage, and the applicable conditions. Within this contract, the scope of the voyage-based Transportation Insurance Policy is determined.
Floating policies offer customers a specific advantage or discount, creating a sustainable bond with the customer and ensuring continuous communication. For such policies, a regular payment is made to the insurance agent or insurance company. The details of floating policies, commitment period, cost, benefits and conditions may vary depending on the type of contract and provider.

While similar to a floating policy, Block Floating Policy is a type of policy issued annually. Based on the annual transportation turnover reported to the insurer, the total premium is calculated for all transportation within a year. In this way, the transportation is covered without any obligation to notify.
A block floating policy offers a comprehensive insurance solution for construction projects, covering a range of risks. Every construction project is different, so the block floating policy can be tailored to suit the specific requirements and risks of the project. The construction owner or contractor should carefully examine and cooperate with the insurance company when choosing the most suitable policy for their project.