What Is Tools and Equipment Insurance?
Tools and equipment insurance – sometimes called inland marine insurance – is essentially property coverage, but it’s designed to protect mobile equipment, machinery, and portable tools. A comprehensive contractors’ insurance or construction insurance policy usually includes tools and equipment coverage, but if it doesn’t, you can add it to your policy as an endorsement.>
Who Needs Tools and Equipment Insurance, and What Does It Cover?
Any professional who hauls tools and equipment to do their jobs to different locations should protect those items, including:
- Construction industry professionals
- Contractors and renovation experts
- HVAC service technicians
- Janitors and professional cleaners
A tools and equipment insurance policy covers the cost of repairing or replacing several types of tools and equipment if they’re stolen, vandalized, lost or suffer water or fire damage, whether those items are owned by you or are borrowed, leased, or rented, including:
- Hand and power tools
- Safety gear and hearing protection
- Measurement devices
- CNC routers
- Power generators
- Ladders and workbenches
- Concrete mixers
- Saws and sanding tools
What Isn’t Covered by Tools and Equipment Insurance?
A tools and equipment policy won’t provide financial support for tools or equipment that are past their useful lifecycle, items that are intentionally damaged, if the cause of damage or loss is outside the scope of the policy’s coverage terms or because of wear and tear.
Get Tools and Equipment Insurance in Minutes, Not Days
Protect your livelihood by protecting your tools and equipment from all that could go wrong.
Fill out an online application for coverage from Zensurance. With over 50 insurance providers in our partner network, we can get the protection you need quickly and affordably.