Installation Floater

Question 1

Installation Floater

Answer 1

cover materials or equipment to be installed in an existing
building or structure or to cover a particular aspect of a
project

Question 2

Installation Floater Covered Property

Answer 2

overs property, at a jobsite, that the named insured is installing, constructing, or rigging. Such operations must be part of an installation project.

Question 3

Installation Floater Property Not Covered

Answer 3

1. Airborne Property
2. Buildings/Structures/Land
3. Contraband
4. Machinery, Tools, Equipment
5. Trees/Shrubs/Plants
6. Waterborne Property

Question 4

Installation Floater Exclusions (Group 1)

Answer 4

1. Civil Authority
2. Earth Movement
3. Flood
4. Fungus
5. Nuclear Hazard
6. Ordinance/Law
7. Water Back Up
8. War/Military Action

Question 5

Installation Floater Exclusions (Group 2)

Answer 5

1. Contamination/Deterioration
2. Criminal, Fraudulent, Dishonest, Illegal Acts
3. Defect/Weakness/Errors/Omissions
4. Delay in Completion/Increased installation Costs
5. Electrical Currents
6. Loss of Use/Consequential Loss
7. Mechanical Breakdown
8. Missing Property
9. Pollutants
10. Steam Boiler Explosion
11. Temperature/Humidity
12. Voluntary Parting
13. Wear & Tear

Question 6

Installation Floater Coverage Ends

Answer 6

1. policy expires/cancels
2. covered installation project is accepted by purchaser
3. insurable interest in covered property ceases
4. project is abandoned with no intent to complete
5. project has been completed for more than 30 days
6. covered property has been put to it’s intended use (does not apply to roofs/walls)

Question 7

Installation Floater Endorsements/Additional Coverages

Answer 7

1. Contract Penalty Endorsement
2. Delay in Completion
3. Earthquake/Flood
4. Equipment Breakdown/Testing