Tools and equipment insurance is designed to protect your high-value movable property. This is also known as inland marine insurance, protects your hard-working assets from common risks like: theft and damage, whether in a storage, on the job site or while transporting tools in your vehicle.
As a contractor, you regularly transport the tools, equipment, and supplies you need to get the job done. Tools and equipment insurance ensures your items’ replacement should an accident, theft, or loss happen.
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From the smallest hand tools to larger equipment such as welders, nail guns, generators and other high-value items, replacement costs can add up fast if your tools are stolen or damaged. With tools and equipment coverage, your investment in these assets is protected.
Tools and equipment insurance commonly includes coverage for the following types of property:
The following optional coverage can be added to most policies to meet the needs of the contractor: