What it does

IM 7500 is AAIS's Scheduled Property Floater. One carrier's schedule titles it "AAIS Scheduled Property Floater", and another adopts the 10 09 edition. AAIS lists scheduled property among its floater classes. AAIS (American Association of Insurance Services) publishes this form in its Inland Marine Guide, a multistate program of inland marine forms, rules and rating procedures that AAIS member insurers adopt. AAIS numbers its inland marine forms with the IM prefix and four digits, which distinguishes them from ISO's CM and IH forms.

Who needs it

Accounts with movable items that do not fit a specialized form, such as audio-visual equipment, instruments or church property used off site.

Quoting and selling notes

Schedule each item with value. Ask whether any items are watercraft, vehicles or property leased to others, which floaters commonly treat separately. The ISO counterpart is IH 00 79.

Before presenting it

AAIS forms are available to member insurers, and carriers often add their own endorsements or edition changes. Obtain the carrier's specimen and review covered property, property not covered, exclusions, valuation, deductible and coinsurance or reporting conditions with the insured.

Related forms

IM 7000, IH 00 79.