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Contractors' Equipment Insurance
General liability covers damage you cause to others, not your own machines and tools. Contractors' equipment coverage, sometimes called an equipment floater or inland marine, protects your excavators, skid steers, trailers, tools and rented equipment on the job, on the road and in storage. Tell us what you own and rent and we'll match the coverage to it.
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Coverage
What It Can Cover
Every policy is a little different. We go through what yours covers, piece by piece, before you buy.
- Heavy equipment you own, like excavators, loaders, skid steers and lifts
- Hand and power tools, often under one blanket limit
- Equipment you rent or lease from others
- Equipment on a job site, in transit or in storage
- Theft, vandalism, fire, collision and overturn, depending on the form
- Rental costs while your own machine is being repaired
Good to Know
Before You Buy
Most equipment claims that go wrong come down to values and wording. These are the points we check with you.
- Scheduled or blanket. Larger machines are usually listed one by one with a value. Smaller tools are often covered under a blanket limit with a cap on any one item.
- Replacement cost or actual cash value. Actual cash value pays what the item was worth after depreciation. Ask which applies to each piece you own.
- Rented equipment. Rental agreements often make you responsible for the machine. Many policies can cover rented or leased equipment up to a set limit.
- Keep values current. Some policies reduce a claim if your listed values are too low. Update the schedule when you buy or sell equipment.
- Theft conditions. Some policies require equipment to be secured, or limit theft from unattended vehicles. Know the rules before a loss.
- Vehicles go elsewhere. Licensed trucks and trailers you drive on the road belong on commercial auto, not the equipment policy.
Pair It With
Gaps Contractors Often Miss
Equipment coverage protects your gear. These protect the rest of the business, and we check for each one when we quote.
Liability Covers Others, Not Your Gear
General liability responds to injury and damage claims from others. Your own machines need their own coverage.
Work Trucks Need Commercial Auto
Personal auto usually excludes vehicles used mainly for business. Commercial auto covers your trucks and drivers.
The Building Isn't Covered While It Goes Up
Your liability policy doesn't cover the structure under construction. Builders risk does, sized to the project.
Questions
What Contractors Ask Us About Equipment
Don't see your question? Ask us directly. A licensed agent will answer, in English or Spanish.
Does my general liability cover my own equipment?
No. General liability covers injury and damage you cause to other people and their property. Your own tools and machines need contractors' equipment coverage.
Is rented equipment covered?
Not automatically. Many policies can add rented or leased equipment up to a limit, and rental companies often ask for proof of coverage before you take a machine.
What if a machine is stolen from a job site?
With theft coverage, the policy can pay for the loss after your deductible, as long as you've met any security conditions in the policy. Report the theft to police right away.
Protect the Equipment That Does the Work
Send us your equipment list and we'll shop it for you.