Insurance for Contractor’s Equipment
When equipment is damaged, stolen or vandalized a contractor’s business, job and reputation is at stake. Get a quote for broad, all risk coverage, up to $1,000,000 in total insured value, for many types of equipment on an inland marine form.
Target Risks: (Not limited to those below)
- New and used equipment owned or leased on a long-term basis
- Targeted operations include, but are not limited to:
- Farming
- General Contractors
- Grading/Paving/Excavation
- Landscapers
- Plumbing
- Sand and Gravel Haulers
- And more!
Ineligible for Online Quoting:
Please note we cannot offer coverage to the following:
- Leased, loaned or rented to others
- Licensed for over-the-road use
- Cranes, draglines, conveyors or equipment for logging, custom harvesting, rigging, underground, mining, rock drilling, rock crushing or dredging
- Construction on the water
- Located in AK, HI, LA or WV
Coverages Available For Contractor’s Equipment
- Up to:
- $1,000,000 per total schedule*
- $1,000,000 per total schedule in coastal zones**
- $150,000 per individual scheduled item
- $15,000 in miscellaneous tools and equipment
- $25,000 or $50,000 for rented/leased equipment
- Replacement cost valuation available for all equipment up to five model years old
- Full coverage is provided for transit exposures
Claim Example for Contractor’s Equipment
Fire: A contractor was clearing brush and debris from a work site in preparation for installation of a doublewide home. The area was dry and had not received any rain in over a month. While clearing debris, the engine compartment from a front-end loader came in contact with a pile of brush and caused it to ignite. The fire spread quickly and as a result, severely damaged the front-end loader being used, as well as another front-end loader that was in the vicinity but not in operation at the time.
Fire: The insured was using an excavator to clear land for a new subdivision. The excavator caught on fire. The fire started from wires around the battery making contact with combustible materials.
Overturned equipment: A general contractor was in the process of excavating a job site. The operator of a grader drove the equipment too close to the edge of a basement that was recently dug and still relatively unstable. The grader overturned and fell into the dug basement. Damage was caused to the cab, engine, and radiator of the grader.
Flood: A trencher was being used to dig water lines for a new subdivision. There was a small stream that flowed near the edge of the work site. Recent rains had caused the trenching work to stop for a few days, as the soil was saturated. The operator of the trencher moved it to what he thought was a safe distance from the stream. Another severe rainstorm came through the area causing the stream to flood. The trencher was caught up in the floodwater and swept downstream causing a total loss.