31 Pa. Code § 91.8 - Property floater risks
(a) Personal
property floater policies may cover any of the following, individually or
generally:
(1) Personal effects floater
policies.
(2) The personal property
floater.
(3) Government service
floaters.
(4) Personal fur
floaters.
(5) Personal jewelry
floaters.
(6) Wedding present
floaters for not exceeding 90 days after the date of the wedding.
(7) Silverware floaters.
(8) Fine arts floaters covering paintings;
etchings; pictures; tapestries; art glass windows; and other bona
fide works of art of rarity, historical value, or artistic
merit.
(9) Stamp and coin
floaters.
(10) Musical instrument
floaters. Radios, televisions, record players, and combinations thereof are not
deemed musical instruments.
(11)
Mobile articles, machinery, and equipment floaters-excluding motor vehicles
designed for highway use, and auto homes, trailers, and semitrailers except
when hauled by tractors not designed for highway use-covering identified
property of a mobile or floating nature pertaining to or usual to a household.
Such policies shall not cover furniture and fixtures not customarily used away
from premises where such property is usually kept.
(12) Live animal floaters.
(b) Commercial property floater
policies covering property pertaining to a business, profession, or occupation
may cover any of the following:
(1) Radium
floaters.
(2) Physicians' and
surgeons' instrument floaters. Such policies may include coverage of such
furniture, fixtures, and tenant assured's interest in such improvements and
betterments of buildings as are located in the portion of the premises occupied
by the assured in the practice of his profession.
(3) Pattern and die floaters.
(4) Theatrical floaters, excluding buildings
and their improvements and betterments, and furniture and fixtures which do not
travel about with theatricaltroupes.
(5) Film floaters, including builders' risk
during the production and coverage on completed negatives and positives and
sound records.
(6) Salesmen's
samples floaters.
(7) Exhibition
policies on property while on exhibitions and in transit to or from such
exhibitions.
(8) Live animal
floaters.
(9) Builders' risks and
installation risks covering interest of owner, seller, or contractor against
loss or damage to machinery, equipment, building materials, or supplies being
used with, and during the course of installation, testing, building,
renovating, or repairing. Such policies may cover at points or places where
work is being performed, while in transit and during temporary storage or
deposit, property designated for and awaiting specific installation, building,
renovating, or repairing. Such coverage shall be limited to builders' risks or
installation risks where perils in addition to fire and extended coverage are
to be insured. If written for account of owner, the coverage shall cease upon
completion and acceptance thereof; or, if written for account of a seller or
contractor, the coverage shall terminate when the interest of the seller or
contractor ceases.
(10) Mobile
articles, machinery and equipment floaters (excluding motor vehicles designed
for highway use and auto homes, trailers, and semitrailers, except when hauled
by tractors not designed for highway use and snow plows constructed exclusively
for highway use) covering identified property of a mobile or floating nature,
not on sale or consignment, or in course of manufactur, which has come into the
custody or control of parties who intend to use such property for the purpose
for which it was manufactured or created. Such policies shall not cover
furniture and fixtures not customarily used away from premises where such
property is usually kept.
(11)
Property in transit to or from and in the custody of bailees not owned,
controlled, or operated by the bailor. Such policies shall not cover the
property of the bailee at his premises.
(12) Installment sales and leased property.
Policies may cover property sold under conditional contract of sale, partial
payment contract, or installment sales contract or property leased but may not
cover motor vehicles designed for highway use. Such policies shall cover in
transit but shall not extend beyond the termination of the seller's or lessor's
interest. This paragraph is not intended to include machinery and equipment
under certain "lease-back" contracts.
(13) Garment contractors floaters.
(14) Furriers or fur storer's customer's
policies, that is policies under which certificates or receipts are issued by
furriers or fur storers, covering specified articles which are the property of
the customers.
(15) Accounts
receivable policies, valuable papers and records policies.
(16) Floor plan policies, covering property
for sale while in the possession of dealers under a floor plan or any similar
plan under which the dealer borrows money from a bank or lending institution
with which to pay the manufacturer, provided all of the following apply:
(i) Such merchandise is specifically
identifiable as encumbered to the bank or lending institution.
(ii) The right of the dealer to sell or
otherwise dispose of such merchandise is conditioned upon its being released
from encumbrance by the bank or lending institution.
(iii) Such policies cover in transit and do
not extend beyond the termination of the interest of the dealer.
(iv) Such policies shall not cover
automobiles or motor vehicles, merchandise for which the collateral of the
dealer is the stock or inventory as distinguished from merchandise specifically
identifiable as encumbered to the lending institution.
(17) Sign and street clock policies, covering
neon signs, automatic or mechanical signs, and street clocks, while in use as
such.
(18) Fine arts policies
covering paintings, etchings, pictures, tapestries, art glass windows, and
other bona fide works of art of rarity, historical value, or
artistic merit for account of museums, galleries, universities, businesses,
municipalities, and other similar interests.
(19) Policies covering property which, when
sold to the ultimate purchaser, may be covered specifically by the owner under
inland marine policies.
(i) Such policies
include the following:
(A) Musical instrument
dealers policies, covering property consisting principally of musical
instruments and their accessories. Radios, televisions, record players, and
combinations thereof are not deemed musical instruments.
(B) Camera dealers policies, covering
property consisting principally of cameras and their accessories.
(C) Furrier's dealers policies, covering
property consisting principally of furs and fur garments.
(D) Equipment dealers policies, covering
mobile equipment consisting of binders, reapers, tractors, harvesters, harrows,
tedders, and other similar agricultural equipment and accessories therefor;
construction equipment consisting of bulldozers, road scrapers, tractors,
compressors, pneumatic tools, and similar equipment and accessories therefor;
but excluding motor vehicles designed for highway use.
(E) Stamp and coin dealers policies covering
property of philatelic and numismatic nature.
(F) Jewelers' block policies.
(G) Fine arts dealers policies.
(ii) Such policies may include
coverage of money in locked safes or vaults on the assured's premises. Such
policies also may include coverage of furniture, fixtures, tools, machinery,
patterns, molds, dies, and tenant insured's interest in improvements of
buildings.
(20) Wool
growers floaters.
(21) Domestic
bulk liquids policies, covering tanks and domestic bulk liquids stored
therein.
(22) Difference in
conditions coverage excluding fire and extended coverage perils.
(23) Electronic data processing
policies.
(c) Unless
otherwise permitted, nothing set forth in subsection (b) shall be construed to
permit marine or transportation policies to cover any of the following:
(1) Storage of assured's merchandise, except
as otherwise provided.
(2)
Merchandise in the course of manufacture, the property of and on the premises
of the manufacturer.
(3) Furniture
and fixtures and improvements and betterments to buildings.
(4) Moneys and securities in safes, vaults,
safety deposit vaults, banks, or assured's premises, except while in the course
of transportation.
Notes
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