Inland Marine Installation Floater Insurance
Damaged or stolen materials can cause project delays or even shutdowns. Valuable building materials including copper, lead and aluminum are attractive to criminals. Even common building materials are targeted by thieves for re-sale. Building materials can also be damaged while in transit or while awaiting installation on the job site. Having appropriate installation floater coverage in place and access to valuable claims services can help you overcome these obstacles.
Travelers Inland Marine specializes in installation coverage solutions that can make a difference. Our broad coverage provides you with protection, and our focused services can help you implement risk management best practices that can help reduce risk and prevent loss.
Installation Floater Insurance
Installation floater coverage is built with your specific project in mind. Our broad installation floater policy provides protection for direct physical loss or damage to materials, as well as supplies and labor costs, for property being installed at job sites. Materials are also covered while in transit and stored at temporary locations.
Who is Installation Insurance Right For?
- Specialty trade and general contractors
- Real estate developers
- Building owners
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What is an Installation Floater?
Inland marine installation floaters provide coverage for a contractor's materials from when they leave the contractor's business until they are installed and that job is signed off. Installation floater coverage is typically purchased by the contractor or subcontractor.
What Does an Installation Floater Insurance Policy Cover?
Inland marine installation floater insurance covers contractor's materials and supplies from variety of exposures other than those excluded in the policy. That coverage includes fire, theft, explosions, water damage transit related damage and vandalism. Installation floater coverage also covers installation-related labor costs. Many installation floater policy coverage will not cover damage to materials that occurs when materials are in transit via air or while waterborne or being worked on underground.
Travelers offers single-project coverage or reporting options for contractors who have multiple jobs in progress. Covered materials usually include:
- Building materials
- Supplies use to install materials
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Inland Marine Network
Travelers Inland Marine Network is our patented loss mitigation process that provides a competitive advantage for our customers. Our dedicated specialists in risk mitigation, Claim and special investigations identify and minimize risk to help keep your operations running smoothly. Our risk mitigation specialists can work with you before and throughout even your most highly engineered projects.