Did you know that your equipment is not covered under your General Liability policy? You will want to make sure that your equipment, especially if your equipment is mobile.
Equipment insurance is a smart choice for anyone who brings their own equipment to different locations to complete jobs. Industries and professions that benefit most from this type of coverage are landscaping, construction, cleaning, contractors, plumbers, janitorial services, electricians, and carpenters. Tools that are usually covered are power tools, saws, ladders, workbenches, stand lights, hearing protection, helmets, and safety gear.
Why is it important to have this equipment coverage? Without the right insurance, you would have to pay entirely out of pocket to replace or repair your equipment. You will also be covered if your equipment is stolen. For example, you would be covered if you are on the road, make a rest stop, and during that time someone breaks into your trailer and takes all your tools. It would also cover if your employee accidentally damaged the equipment, and you need to get that replaced before you can complete your job. This will cover equipment that is owned by you and borrowed equipment as well. This type of equipment coverage can be purchased on its own or it can also be added to the General Liability if the carrier has that option. There is an option to cover as a blanket coverage, where you select the total amount you want to be covered under the policy or you can schedule items. For example, the blanket coverage can be set at $10,000 and all the small tools can be covered up to that blanket amount. The other option is to schedule your items by listing out all your equipment and they would be covered up to the value listed.
What is not covered are situations like corrosion, rust, or wear and tear. To ensure that you are properly covered, you can give InsurePro a call and one of our licensed agents can guide you through the process and ensure your equipment is properly covered so you are not paying for your tools out of pocket. To quote, all we need is the business name, location address, amount of coverage you need, and details on the type of equipment you have. You can contact InsurePro by going directly to our website, calling, texting, or emailing.
At InsurePro we can help you and your business save time and money by quoting you rates from several different carriers. We will match you with the best carrier that matches your insurance needs.
Helps cover property damage and bodily injury.
Combines both property and liability coverage.
Helps cover risks that come from operating business vehicles.
Helps cover employees if they get sick or injured.
We work hard to find a business insurance plan that makes the most sense for you. Leave the insurance to us so you can focus on your business.