Higher-value equipment is scheduled by make, model, serial number and value, each with its own limit, and small tools go under a blanket limit with a per-item cap. Scheduling is also how you keep the values current, because a coinsurance clause on the floater penalizes a schedule that is below full value at the time of a loss.
Related FAQs
It can, once a rented or leased equipment limit is added to the floater. Read the rental agreement first. California law makes a hirer liable only for damage caused ...
Only within the small extension the property form gives for property in transit or at another location, and that limit is usually far below the value of a truck ...
The commercial property form insures your building and contents at the address on the declarations. Inland marine insures property that moves or sits away from that address: tools on ...
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