What is and is not covered by your other policies
| Policy | Covers your tools? | Why |
|---|---|---|
| General liability | No | It pays for injury and damage you cause to other people, not damage to your own property |
| Commercial auto | Usually no | It covers the vehicle and liability from driving it. Tools carried inside are generally not insured |
| Workers' comp | No | It covers employee injuries, not equipment |
| Tools and equipment (inland marine) | Yes | Written for property that moves from job to job |
What to ask before you buy
- Replacement cost or actual cash value? Replacement cost pays to buy new, actual cash value deducts depreciation
- Scheduled or blanket? Scheduled lists each item and value. Blanket covers all tools up to one limit
- Theft from a vehicle: some policies require the tools to be in a locked vehicle with visible forced entry, or locked out of sight
- Rented and borrowed equipment: confirm whether rented equipment is covered and for how much, since rental agreements often make you responsible for it
- Where is it covered? Job sites, a storage yard, your shop and in transit are often separate conditions
- The deductible, and whether employees' personal tools are covered
Who should carry it
Any contractor whose tools or equipment are costly to replace: power tools, compressors, scaffolding, generators, lifts, trailers and specialized equipment. A single stolen toolbox can cost thousands and stop a crew from working. If you finance or lease equipment, the lender may require coverage.
Get a tools and equipment quote
Send us a list of your tools and equipment with approximate values and where they are kept, and we will price it, often together with your liability policy. Call (858) 925-9555 or request a review online — only your name, phone and email are required; we collect project details by phone. Asena Capital Insurance Services, CA License #6008596.
Frequently asked questions
Does general liability cover my tools?
No. General liability covers harm you cause to others. Your own tools need tools and equipment (inland marine) coverage.
Is stolen equipment from my truck covered?
It depends on the policy. Many require that the vehicle was locked, and some require visible signs of forced entry. Ask before you buy.
Does tools and equipment insurance cover rented equipment?
Some policies include a limited amount for rented or borrowed equipment and some do not. Ask for the limit in writing.
What is the difference between replacement cost and actual cash value?
Replacement cost pays the price of a new tool. Actual cash value pays the depreciated value of the old one.