Property Floater
The premium rate shall be based on the prevailing rate in the area; provided that in no case shall said rate be lower than One Percent (1.0%) of sum insured if the coverage is an initial insurance coverage for the subject property or the rate as expiring if renewal, subject to a minimum premium of Four Hundred Pesos (P400.00) per policy.
The per event deductible shall be One Percent (1.0%) of sum insured or One Thousand Pesos (P1,000.00), whichever is higher.