🔧 Installation Floaters
Installation Floaters provide Inland Marine coverage for materials, equipment, and supplies that are being transported to a job site, stored temporarily, or awaiting installation. They fill a critical gap between supplier responsibility and Builders Risk coverage, ensuring that contractors’ materials are protected throughout the installation process.
📘 What Is an Installation Floater?
An Installation Floater is an Inland Marine policy that insures materials and equipment a contractor is responsible for installing. It covers property from the moment it leaves the supplier until it is permanently installed and accepted by the project owner.
This coverage is essential for trade contractors such as electricians, plumbers, HVAC installers, and mechanical contractors who handle high-value materials before they become part of the structure.
📦 What It Covers
Installation Floaters typically insure:
- Materials and equipment in transit to the job site
- Property stored off-site in warehouses or laydown yards
- Property on-site awaiting installation
- Partially installed work until final acceptance
- Temporary storage structures (when endorsed)
🔥 Common Causes of Loss
Typical claims include:
- Theft of copper, wiring, or mechanical units
- Damage during transportation
- Vandalism or malicious mischief
- Weather damage to stored materials
- Water intrusion affecting partially installed work
📄 Policy Structure
Key components of an Installation Floater include:
- Limit of insurance based on the maximum value at risk
- Transit coverage for materials en route
- Off-site storage coverage for warehouses and staging areas
- On-site coverage for materials awaiting installation
- Deductibles tailored to contractor size and risk
⚠️ Key Risk Factors
Underwriters evaluate:
- Security at storage locations
- Transportation methods and controls
- Contractor experience and loss history
- Material susceptibility to theft or damage
- Project location and weather exposure
🧩 Why Installation Floaters Matter
Installation Floaters protect contractors from gaps between supplier responsibility and Builders Risk coverage. They ensure that materials are insured throughout their journey — from warehouse to job site to installation — supporting project continuity and financial stability.
