CONTRACTORS EQUIPMENT:

This coverage provides physical damage insurance for the mobile or contractors equipment located on the insured's premises, job site or while it is in transit. Items that can be included range from employee's tools to scaffolding to cranes. If it used by the contractor to do his job and is not licensed for road use, there is a good chance that it is contractor's equipment and should be covered.

•  It is important to know if the coverage is actual cash value or replacement cost, is the coverage all risk or named perils?

•  Can the coverage be blanketed?

•  What about new or replacement equipment are they covered automatically?

•  How are leased, rented and borrowed items handled?

•  Is there a coinsurance requirement and penalty?

•  Is there an "overcapacity" limitation in the form that will deny coverage if the equipment lifts something beyond stated capacity?

Careful review should be made of the operations and the type of equipment that is used on or around the premises.

INSTALLATION FLOATER:

Coverage starts when the items to be installed are transported to the customer's premises and remains in place until the items have been installed by the contractor and he closes the job or the owner accepts the work that has been done, whichever comes first. Coverage may be for the legal liability of the contractor or may be for the owned property of the insured. This is not a substitute for a builders risk policy.

Keys for comparison are the

•  reporting capabilities for multiple jobs

•  limits

•  covered causes of loss

•  exclusions and definitions of when coverage starts and stops.