Installation Floater Insurance covers materials and equipment during transit, storage, and installation at a job site. Ideal for contractors, electricians, and HVAC installers handling valuable materials.
Installation Floater Insurance
What Is Installation Floater Insurance?
Installation Floater Insurance is a specialized Inland Marine policy that covers materials, supplies, and equipment being transported to a job site and installed. It protects against loss or damage before, during, and shortly after installation — especially for subcontractors.
Who Needs Installation Floater Insurance?
If you’re transporting expensive HVAC units, millwork, or IT systems to a project site, the risk of theft, fire, and damage in transit or during installation is high. This coverage fills a gap left by general Property and Builders Risk policies.
Common industries that often require Installation Floater Insurance include:
- Electrical, HVAC, or Plumbing Contractors
- AV/IT System Installers
- Cabinetry, Glass, and Millwork Subcontractors
- Equipment Suppliers and Specialty Trades
What Does Installation Floater Insurance Cover?
Installation Floater Insurance typically covers:
- Property in transit to the site
- Materials and equipment at the site but not yet installed
- Damage during installation
- Some temporary storage (if specified)
What Doesn’t Installation Floater Insurance Cover?
While Installation Floater Insurance offers broad protection, it doesn’t cover:
- Tools or owned equipment (covered under Contractors Equipment)
- Workmanship errors (requires E&O or A&E Liability)
- Completed work
- Flood or earthquake (unless endorsed)
How Much Does Installation Floater Insurance Cost?
The cost of Installation Floater Insurance varies based on factors like project size, materials value, industry, location, and claims history.
Key Cost Factors:
- Project value and material type
- Frequency and distance of transport
- Temporary storage conditions
- Limit of insurance needed
Typical Cost Range:
- Per Project: $500–$5,000
- Per Project Annually: $1,000–$10,000
- Often bundled into a Contractor’s Package or Marine policy
Risk Management Tips
To minimize potential claims:
- Schedule all high-value equipment and components accurately before transport.
- Use experienced and insured third-party installers for complex machinery.
- Document condition of equipment pre- and post-installation with photos.
- Keep all bills of lading, warranties, and installation manuals in one record.
- Store items in protected areas until installed to minimize environmental damage.
- Schedule regular audits of equipment in transit or awaiting installation.
Talk to An Expert
Our dedicated experts are ready to provide tailored insurance solutions to clients across a wide range of industries and specialized services.
Schedule a consultation to see how Alliance Risk can reduce your insurance risk.
– We look forward to partnering with you.