Summary: The typical builders risk policy only covers 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—e.g., machinery, generators, etc.

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,” form IM-7100.

This treatment examines the AAIS installation floater. As other, independently filed installation floaters are received, they will be added to this section.