who needs an installation floater
Those contractors who commonly purchase the installation floater are referred to as artisan contractors, because they generally are skilled manual workersâelectricians, plumbers, heating and air-conditioning contractors, and roofersâwho usually perform small or routine type of work on existing buildings or structures.
in charge of the job might purchase this policy. An installation floater, while similar in coverage, insures only a. specific type of property during the construction, such as the plumbing or electrical systems. Subcontractors, who ordinarily have a limited scope of work on the job, purchase installation floaters. An installation floater policy insures property used in a construction project.
Therefore, producers cannot simply select an installation floater from among the insurers they represent and hope it will meet a contractorâs needs. Producers do not have to conduct a full-scale risk management analysis, particularly when the artisan contractor performs the same day-to-day mundane type of work.