Tools & Equipment Insurance

We’ve got you covered in the repair and replacement of your gear. Talk to one of our specialists today to add this coverage to your General Liability policy!

Looking for cheap tools & equipment insurance for contractors?
Get your coverage here at Pascal Burke Insurance Brokerage


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What is Tools & Equipment Insurance?

Tools and equipment insurance is designed to protect your high-value movable property. This is also known as inland marine insurance, protects your hard-working assets from common risks like: theft and damage, whether in a storage, on the job site or while transporting tools in your vehicle.

As a contractor, you regularly transport the tools, equipment, and supplies you need to get the job done. Tools and equipment insurance ensures your items’ replacement should an accident, theft, or loss happen.

There is no substitute for experience, so if you’re trying to find the best possible tool & equipment coverage in your location, you have come to the right place! Place your business in the capable hands of Pascal Burke Insurance Brokerage today!

If you are an electrical, roofing or general contractor, you know how important your tools and equipment are for your business. You rely on them to complete your projects on time and on budget. But what if something happens to your tools and equipment while they are in transit, at a job site or in storage? How would you replace them quickly and affordably?

That’s where a tools and equipment floater for electrical contractors policy can help. This floater policy is a type of insurance that covers your tools and equipment against loss or damage from perils such as fire, theft, vandalism, collision, flood and more. Unlike a standard property policy.

A tools and equipment for roofing contractors floater policy can protect your investment in your tools and equipment and help you avoid costly delays and interruptions in your work. It can also save you money by avoiding the need to purchase separate policies for each piece of equipment or each job site. You can customize your policy to suit your specific needs and budget.

At Pbibins Insurance, we specialize in providing tools and equipment for general contractors floater policies for contractors of all types and sizes. We understand the risks and challenges you face in your industry and we can help you find the best coverage for your situation. Whether you need a tools and equipment floater policy for electrical contractors, roofing contractors or general contractors, we have the solution for you. Contact us today for a free quote and consultation.

What Does Tools & Equipment Insurance Cover?

From the smallest hand tools to larger equipment such as welders, nail guns, generators and other high-value items, replacement costs can add up fast if your tools are stolen or damaged. With tools and equipment coverage, your investment in these assets is protected.

Tools and equipment insurance commonly includes coverage for the following types of property:

  • Property in transit, such as contractor’s tools and supplies.
  • Mobile equipment, such as forklifts, dozers, track hoes, maintainers, loaders.
  • Computer equipment and data, such as accounting software, lead-tracking data, policies, procedures, and other electronic assets.

When do you need Tools & Equipment Insurance?

  • Everyone needs tool coverage; loss can happen at any time.
  • In today’s environment a tool & equipment policy is essential as it follows your tools and equipment, from storage, transit and on the job site.

Optional Coverages:

The following optional coverage can be added to most policies to meet the needs of the contractor:

  • Leased equipment coverage.
  • Borrowed equipment coverage.
  • Rental cost reimbursement coverage.
  • Coverage for employees’ tools and work clothing.

What is covered?

  • Your company tools and scheduled equipment over $2500 in value.
  • Coverage for tools and equipment is provided while in storage, or on the job site or in transit.
  • Rental Equipment (Optional Coverage) allows you to rent equipment and not pay the rental companies high insurance charges.
  • Theft or damage to tools or equipment while in storage, transit or on the job site.
  • Temporary replacement or rental of equipment until repairs can be made, or new equipment can be acquired.

What is not covered?

  • Borrowed tools or employee tools unless endorsed to the policy.
  • Tools or equipment over $2,500 in value must be scheduled.
  • Theft of unprotected tools & equipment.
  • Wear & Tear or rust damage.