Contractor’s Equipment Coverage (Inland Marine Insurance)
At Snyder Insurance Agency, we understand how essential your tools and equipment are to keeping your business running. That’s why protecting them is so important. Contractor’s Equipment Insurance or often called inland marine insurance—helps safeguard your gears against risks such as theft, damage, or loss. While not legally required in Pennsylvania, it’s highly recommended and in some cases even required by clients before work begins.
It covers a range of items, from heavy machinery and tools to temporary structures, and often includes coverage for theft, accidents, fire, vandalism, natural disasters, and transportation accidents.
Most Businessowners Policies include a limit for tools (for example, $25,000 with a $1,000 sublimit per item). But if you own higher-valued items, they should be individually scheduled to make sure your policy responds correctly in the event of a claim. That way, whether it’s your skid steer or a $4,000 generator, you’ll know it’s protected.
Here are some questions that would come up:
- Do you take all of your tools with you to every job, or keep some in your shop?
- Do you own larger pieces of equipment that need to be specifically listed?
- Do you have heavy commercial vehicles, paving equipment, or excavation equipment?
Every contractor’s situation is different, which is why we’ll walk you through the options—whether that’s scheduling specific high-value items or setting a blanket limit for everyday tools. Our goal is to make sure you have the right protection in place so your business doesn’t miss a beat if the unexpected happens.
We are here to educate you and protect all the pieces of your business together on one comprehensive policy.
