Installation floater insurance
When you install a rooftop unit, a switchgear cabinet or a run of windows, the material is your responsibility until the owner accepts the work. An installation floater covers it in transit, in storage and on site.
Who needs an installation floater
- HVAC, plumbing and electrical contractors
- Glass, glazing and storefront installers
- Elevator, escalator and conveyor installers
- Solar, signage and fire protection contractors
- Machinery and equipment installers
Request a quote
There is no separate application for this class, so start with the short inland marine quote request. Someone will follow up with any underwriting questions specific to your risk. Insurance agents can also request an appointment.
How it differs from builders risk
Builders risk covers the whole building and is usually bought once per project by the owner or general contractor. An installation floater covers only the materials one trade is installing, and a subcontractor typically carries it on an annual basis for all of its jobs.
Subcontractors cannot count on the project's builders risk. It may not exist, may not name them, or may carry a deductible the contract passes down to them.
How it is rated
- Maximum value at any one job site
- Maximum value in transit and in temporary storage
- Annual value of installations completed
- Whether testing and start-up of installed equipment is included
Where the material is at risk
In transit from the supplier
Units and materials can be damaged in a truck accident or stolen from an unattended vehicle. Ask what transit limit applies and whether theft from a parked vehicle requires it to be locked.
In temporary storage
Material often sits in a yard or warehouse before it goes to the job. Many floaters cover temporary storage at a lower limit than the job site, so list the largest amount you store at one time.
On the job before acceptance
Once installed, the work is still yours until the owner accepts it. Ask whether testing and start-up are covered, since mechanical breakdown during testing is often excluded unless added.
How to get an installation floater quote
- Add up your installations for the past year and estimate the coming year.
- Find your largest single job and the most material you will have on that site at one time.
- Estimate the most you carry in one truckload and the most you hold in temporary storage.
- Note whether you test or start up equipment before handing it over.
- Pull copies of contracts that ask you to insure the work or name the owner or general contractor.
- List any losses on installed work over the last three to five years.
The installation floater application
There is no standard form for an installation floater, so the application asks the same core questions most underwriters need. Having the answers ready makes the quote faster.
- Your trade and the type of work you install
- The largest value of materials on any one job, and your annual installed value
- How materials get to the job: your trucks, a supplier, or a common carrier
- Where materials are stored before installation, and how that storage is secured
- Whether you want a single-job policy or an annual floater that covers every job
- Losses in the past 3 to 5 years
Common questions
Is there an online installation floater application?
Yes. Start with the inland marine quote request on this site and choose installation floater. It asks the questions underwriters need, and someone follows up with any trade-specific questions.
When does installation floater coverage end?
Usually when the work is accepted by the owner, when the owner's interest in the property begins, or when the policy term ends, whichever happens first.
Does it cover my tools?
No. Tools and equipment you use to do the installation belong on a contractors equipment or tools floater. The installation floater covers what is being installed.
Can I buy an installation floater for a single job?
Yes, many markets write a job-specific floater for one project. Contractors with steady work usually find an annual floater simpler, since it covers jobs that start during the term up to the per-job limit.
Need a contractor license bond?
Many states and cities require a contractor license bond before you can get licensed or pull permits. Find the bond your state requires.
Related coverage
Builders Risk
Covers the building while it goes up: framing, materials on site and in transit, through completion.
Coverage & applicationRiggers Liability
Covers other people's property while you lift, hoist, rig or move it.
Coverage & quoteContractors Tools
Hand and power tools on the truck, in the gang box, and at the job site.
Coverage & applicationCommercial Solar
Rooftop and ground-mount solar arrays at commercial locations, plus installation coverage.
Coverage & quote