What is the purpose of an installation floater?

What is the purpose of an installation floater?



To cover property belonging to a contractor or others that is intended to become a part of a structure


To cover property to be installed at the insured's location


To cover property that has been installed when the contractor has completed the job and the work has been accepted


To cover the insured's machinery, tools and other equipment used to install property to become a part of a building



Answer: 


To cover property belonging to a contractor or others that is intended to become a part of a structure


The policy is used to supplement coverage provided by the commercial property forms. It covers property off an insured's location and in transit or at the job site awaiting installation or when it has been installed. Coverage ceases when the property has been accepted by the purchaser.


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