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Written in Conjunction with Builders Risk Policies

Summary: The typical builders risk policy covers only property on the described premises. Neither does it provide coverage for the property while in transit. An installation floater covers a certain type of property while that property is being installed and, to a degree, while in transit. Usually purchased by a contractor or a subcontractor, the installation floater covers expensive types of property being installed—such as machinery or generators. Insurance Services Office, while offering a builders risk policy in its commercial property portfolio, does not offer an inland marine installation floater. The standard in this line comes from the American Association of Insurance Services (AAIS), Installation Floater Coverage, IM 7100. This article examines the AAIS installation floater and revisions that were made in 2010.

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