TOOLS & EQUIPMENT INSURES AGAINST:
- Reimbursement of the Owner
- First-Party insurance that reimburses the owner
- Tools & Equipment in Transit
- Insure tools & equipment in transit over land and in most cases, without regard to location
- Communication Towers
- Could even insure certain communication towers, like radio or cell towers
- Legal Liability exposures of Bailees
- Could insure the legal liability exposures of bailees
- Theft or Loss
- Insures against theft or loss of use
“Don’t slow down or halt a job due to loss of equipment, and protect your financial investments into the business today with Tools & Equipment Insurance”.
COMMONLY ASKED QUESTIONS ABOUT TOOLS & EQUIPMENT INSURANCE:
- Which businesses need coverage for Tools & Equipment (Inland Marine Insurance)?
- If you have any equipment or tools that you transfer to a job site or customer location, or if you lease any tools or equipment.
- What is a good limit of insurance on my Tools & Equipment?
- In most scenarios, you want to be reimbursed for the cost of replacing that equipment with what it would cost you today to purchase new.
- Is this a first or third-party coverage?
- In most cases, this policy would reimburse you for damage or loss of use, though this could also be a third-party policy to protect against suits for legal liability while leasing other equipment.
- Does this protect against theft?
- Yes, in most cases, this insurance could reimburse you for theft.