Contractors who perform work at customers\u2019 homes frequently transport materials to a work site and store them there before and during the installation process. Installation floater coverage can protect a business if materials or fixtures get damaged during that time.<\/p>\n\n\n\n
Installation floater coverage is a form of inland marine coverage that can compensate a company for losses if materials get damaged by accident, water, or fire, or if they get stolen or vandalized. Installation floater coverage applies to property that\u2019s moved from one location to another. Some policies exclude materials that are being transported by ship or airplane.<\/p>\n\n\n\n
Installation floater coverage is meant to be temporary. It typically gets canceled after materials are installed and the work is approved.<\/p>\n\n\n\n
Installation floater coverage differs from commercial property insurance<\/a>, which only covers materials when they\u2019re at the location listed on the policy. Equipment floater insurance, another type of inland marine coverage, applies to a contractor\u2019s tools that get moved from place to place.<\/p>\n\n\n\n Builder\u2019s risk insurance is a comprehensive form of coverage that\u2019s intended to cover an entire project, from start to completion, while installation floater coverage is meant to cover only one aspect of a project. A builder\u2019s risk policy might specifically exclude some systems and materials from coverage. If so, installation floater coverage can fill in the gaps.<\/p>\n\n\n\n Installation floater coverage can provide vital protection for plumbers, HVAC technicians, electricians, and other contractors. It can also protect subcontractors from losses that aren\u2019t covered by a general contractor\u2019s builder\u2019s risk policy.<\/p>\n\n\n\nWho Can Benefit from Installation Floater Coverage?<\/h2>\n\n\n\n
Does Your Company Need Installation Floater Coverage?<\/h2>\n\n\n\n