If an elevator installation company incurs damage during an installation, which policy covers this damage?

The installation floater is specifically designed to provide coverage for equipment and materials that are in transit or being installed at a job site. In the scenario presented, where an elevator installation company incurs damage during the installation process, this type of policy would be most relevant because it protects against losses that occur while the equipment is on-site or undergoing installation.

General liability insurance is more focused on protecting against claims related to bodily injury or property damage caused to a third party as a result of the business operations, rather than covering the company’s own property during installation. Property damage insurance may cover damage to physical assets, but it generally pertains to damage involving the company’s owned property rather than third-party installation scenarios. Comprehensive coverage is broader and can encompass various types of incidents but would not specifically address the unique risks associated with installations in the same way that an installation floater does. Thus, in this context, the installation floater is the appropriate policy to cover any damage incurred during an elevator installation.