Contractor's Equipment Insurance
Contractor equipment is not only expensive but essential for daily operations. From heavy equipment like bulldozers to smaller power tools, protecting these assets with Contractor's Equipment Insurance could mean the difference in keeping your business running or shutting down production.
While most Commercial Property policies cover a business's personal property, they exclude property that moves from job site to job site. This can leave you open to significant loss if your contracting equipment gets damaged or goes missing. Additionally, your mobile equipment, such as forklifts, cranes, diggers, etc., are typically excluded from your Commercial Auto policy.
A Contractor's Equipment Insurance policy covers the direct physical damage or loss of mobile machinery and equipment. Providing the necessary protection against perils such as fire, flood, theft, and vandalism, these policies also cover equipment when in transit from location to location. Often, Contractor's Equipment policies also include equipment that is not only owned but rented, leased, or borrowed.