Coverage in Depth: Installation Floater
What It’s For
The Installation Floater covers an installing subcontractor against loss to materials, supplies, machinery, equipment, and fixtures which are intended to become a permanent part of an installation. Property is covered while in transit, at a temporary storage facility awaiting installation, at the jobsite, and throughout the actual installation process.
Building materials are not generally covered once they are attached to the building structure though coverage is available by endorsement.
Why It’s Important
Building materials, especially custom items, account for a significant percentage of a project’s cost. Mitigating the cost due to damage, theft, etc. of building materials can frequently mean the difference between a profit and a loss on a project.
We frequently include a small amount of Installation Floater coverage with our Businessowners policy. We can increase this coverage as necessary and/or write coverage on a stand-alone basis for clients who do not have a Businessowners policy.
Please email us or call us (508.653.1600) if you are interested in additional information on Installation Floaters.