What it does
IH 68 06 appears in carrier forms schedules as the Contractors Equipment Reporting Form, used with IH 00 68 to insure equipment values on a periodic reporting basis instead of a fixed schedule.
Who needs it
Larger contractors whose fleets change often through purchases, sales and rentals, where scheduling each change is impractical.
Quoting and selling notes
Explain reporting duties and penalties for late or low reports. The IH 00 68 deductible section already contains rules for percentage deductibles when reports of values are filed.
Before presenting it
Ask the carrier for the specimen of this endorsement and read it with the coverage form it modifies, since the endorsement only changes the provisions it names. Note it on the proposal so the insured knows how it changes the base form.
