Installation Floater

A specialized inland marine coverage that protects materials and equipment during the installation process — from the time materials arrive on site through final acceptance testing by the owner. An installation floater is distinct from a contractor's tools and equipment policy (which covers the contractor's own reusable tools) and from builders risk (which covers the structure being built).

For tower contractors, an installation floater covers antennas, coaxial cable, radio remote units (RRUs), radio heads, fiber optic cable, cable trays, equipment cabinets, and structural steel components during transport to site, storage at site, and the installation process itself. If an antenna is damaged during hoisting, or cable is destroyed by weather before termination, the installation floater responds.

Without an installation floater, materials damaged during hoisting or mounting fall into a coverage gap. The contractor's general liability policy excludes property in the contractor's care, custody, and control. The tower owner's property policy does not cover materials the contractor has not yet installed. The result is an uninsured loss that the contractor must pay out of pocket.

Installation floater coverage is typically written on an all-risk basis with limits matching the maximum value of materials at any one project site. Premiums run approximately 1-3% of the insured value annually. For a contractor carrying $500,000 in installation materials at peak, the annual premium would be $5,000-$15,000.