Installation insurance coverage from The Hartford can help protect contractor’s profits. If a covered loss prevents a construction business from completing a project or meeting a deadline and profits are lost, under The Hartford’s installation coverage form, the contractor can be reimbursed for the pro rata percentage of profit earned prior to the loss, based on the profit assumptions originally built into the job estimate.
The Hartford’s installation insurance coverage goes beyond other policies by helping to protect valuable papers and documents as well as borrowed and rented property and equipment. In addition, our installation insurance also provides coverage for lost or damaged tools, as well as expenses such as fees for architects and engineers or interest on construction loans taken due to a covered loss. Installation insurance coverage from The Hartford includes testing coverage for damages caused during the testing of a newly installed system.
The Hartford’s installation coverage provides up to $100,000 for the following temporary structures:
Our installation coverage also provides up to $10,000 to re-erect undamaged portions of this property.
Owned or leased tools that are at the job site are covered for up to $500 per item, with a maximum coverage of $2,500 per year while protected by our installation coverage form. High-value installation tools, such as cement mixers, rotary drills, and excavators can be covered by a separate contractor’s equipment policy.
Valable papers such as blueprints, schematics and other paper and electronic document are protected under The Hartford's installation coverage policy. The Hartford automatically pays up to $25,000 for research, restoration or replacement of valuable papers and documents that are damaged or destroyed in a covered accident.
It's important for contractor and construction businesses to test equipment before operating. Yet it is possible for the equipment and the structure and property on which it is operating to be damaged during testing. The Hartford’s installation insurance policy provides coverage for losses that arise from the testing of pneumatic and hydrostatic equipment.