Where do you get an installation floater from?

Installation floaters are typically purchased by contractors or subcontractors that have a limited scope of work on a job because they provide coverage only for the insured contractor’s portion of a project.

Can a tree be included in an installation floater?

Trees, shrubs and plants are also commonly excluded from installation floaters. If possible, contractors that perform landscaping installations should have their policy amended to specifically cover this type of property.

Can a contractor get insurance for a floater?

For contractors, the property they rely on to complete their work can be compromised along the way. Most commercial property insurance policies provide little to no coverage for property once it has been removed from a contractor’s premises.

What kind of losses are covered by installation floaters?

Unless covered through an endorsement, installation floaters may exclude losses caused by earthquakes, volcanic eruptions, floods, sewer backups, governmental action, nuclear hazards, war or military action, employee theft, or errors and omissions.

Can a builder’s risk floater be used for an installation?

The installation floater can be used to supplement a deficient builder’s risk policy that’s provided by an owner or general contractor and may even cover the deductible of the owner’s builder’s risk. The coverage considerations of a builder’s risk policy should not be vs. the installation floater but should be considered in concert with each other.

Who is covered by an installation floater policy?

The installation floater provides coverage only for the policyholder. It doesn’t provide coverage for any other party on a project site other than the contractor who purchased the installation floater. The installation floater should be reviewed to confirm the property covered, including material in transit and storage.