Florida Insurance Licensing Practice Exam

What form is best suited for a contractor concerned about tools being stolen from a job site?

1. The personal articles floater

2. The installation coverage form

3. The contractors equipment floater

4. The business auto policy

The correct answer is: The contractors equipment floater

A personal articles floater typically covers valuable personal items, such as jewelry, collectibles, and fine art. This would not protect tools on a job site, as it is intended for personal property. The installation coverage form is designed for contractors who are performing work on a specific project and need coverage for the materials and equipment involved in that project. It would not provide adequate protection for tools on a job site. The business auto policy would only cover tools if they are stolen from a vehicle, but not if they are left unattended at a job site. The contractors equipment floater is the best option for a contractor concerned about tools being stolen from a job site. This form provides coverage for equipment and tools used in the course of business, including when they are at a job site. It is specifically designed for contractors and can protect against theft, damage, and loss of tools.