Contractors’ Equipment Insurance
Falvey Insurance Group recently introduced Inland Marine insurance coverage, which includes contractors’ equipment insurance. If your business, or client’s business, transports and operates equipment and tools at job sites, this policy might be right for you or your client.
What is Contractors’ Equipment Insurance?
Contractors’ Equipment insurance is a policy that falls under the umbrella of Inland Marine insurance. In fact, Contractors’ Equipment insurance is associated with equipment risk, the largest class of Inland Marine insurance.
Inland Marine insurance covers property and assets while in land transit or off-site storage/location such as jobsite, so as its name suggests, Contractors’ Equipment insurance covers contractors’ equipment in particular. This policy differs from standard commercial insurance, which may not always fully cover equipment that’s on the move or stored at a worksite.
What Does Contractors’ Equipment Insurance Cover?
Contractors’ Equipment insurance covers a wide range of property, including your equipment, leased and rented equipment, tools, and even clothing. In some cases, cleanup and debris removal costs, loaned and borrowed may also be available coverages.
Who Needs a Contractors’ Equipment Insurance Policy?
Trade contractors who transport and use equipment and tools at job sites can benefit from this insurance policy.
Some of the most common trades that purchase this policy include:
Artisans
Builders
Contractors
Carpenters
Electricians
Excavators
Forestry/Loggers
Installers
Masons
Painters
Plumbers
Road Pavers
Roofers
Terminal Operations
Warehousing Operations
Counties, municipalities, or other government agencies
Steel erectors
If you think Contractors’ Equipment insurance might be the right avenue for your business, contact us today to learn more.
