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Installation Floater Insurance

Your equipment and materials are essential to complete the job, don’t be left with costly replacements because you did not have the appropriate coverage!

As a contractor, you’re constantly worried about hitting deadlines, protecting equipment and watching the weather. 

Installation Floaters cover specific materials / items that a contractor is planning to install. This covers either all risks or specific sources of losses for materials or equipment specifically named in the policy.

An example, you’re a contractor working on a project installing new plumbing in a commercial building, and you naturally have your extra materials and tools stored on site. In the middle of the night, a fire breaks out on the property and in the storage area, thus your material and tools are destroyed. Depending on the policy, your builders’ risk policy may not cover your equipment in this case, but if you have an installation floater you will have that extra layer of protection.

One of the biggest risks contractors face is theft of their tools, equipment, machinery or materials. Don’t leave your essential assets defenceless to face that risk without adequate protection. 

When do you need an Installation Floater?

  • When the cost to replace materials due to fire or theft or exceeds your comfort level.
  • A contractual requirement of the owner or prime contractor.

What is covered?

  • Your materials while in temporary storage.
  • Your materials while stored on the jobsite.
  • Your materials while in transit.

What is not covered?

  • Theft of materials that are not protected while being stored.
  • Materials that have been installed in the structure.