What type of coverage would a heating and cooling contractor need when work has been completed on a newly renovated building but not yet accepted by the owner?

An installation floater is the appropriate type of coverage needed in this scenario. This policy protects contractors and their clients against risks associated with installation operations and materials. Since the work on the newly renovated building has been completed but not yet accepted by the owner, there's a potential risk involved if any damages occur to the newly installed items. An installation floater specifically covers materials and equipment while in transit to the job site as well as during the installation phase. Therefore, even though the work is finished, it ensures coverage until the project is formally accepted, mitigating financial loss from unforeseen incidents that could occur during this transitional period of ownership.

Other coverage options, like a general liability policy, mainly protect against third-party claims for bodily injury or property damage but do not cover the particular installations that are still pending acceptance. Similarly, a builder’s risk policy primarily covers structures under construction for hazards such as fire or theft but not specifically for completed work awaiting approval, and a professional liability policy is geared towards errors and omissions in professional services rather than physical products being installed.