Other Than Life (OTL) Practice Exam

What should a plumbing sub-contractor obtain for coverage not included in the General Contractor's Policy?

1. A Plumber's All Risk policy

2. An Installation Floater as an addition to his Contractor's policy

3. A Builder's Risk policy

4. A Contractor's equipment floater

The correct answer is: An Installation Floater as an addition to his Contractor's policy

The correct choice focuses on obtaining an Installation Floater as an addition to the Contractor's policy. This coverage is specifically designed to protect materials and work in progress while they are being installed or under construction. It is crucial for sub-contractors like plumbers to ensure that their specific materials, tools, or equipment used in installation are adequately covered, as these aspects may not be included in the general contractor's insurance policy. The Installation Floater provides coverage for risks associated with physical loss or damage to the installation materials until the work is completed, unlike some broader policies that may not cover this specific need adequately. This is particularly important in the plumbing trade, where specialized equipment and materials can be prone to theft, damage, or loss. Other options, while related to construction coverage, do not specifically address the unique needs a plumbing subcontractor has regarding their installation and materials. A Plumber’s All Risk policy is broader and generally used for various risks rather than focused on installation. A Builder's Risk policy primarily protects the structure under construction and might not cover tools or materials before they are affixed to the building. A Contractor's equipment floater typically covers equipment owned by the contractor rather than materials and works in progress, which are crucial for a plumber's needs.