Do you have quite a bit of equipment that you use in the course of business? If so, it is very important to individually schedule the higher valued items.
The regular Businessowners policy will normally include a certain limit of coverage for your tools (with a specific sublimit for each tool). A good example of this might be that you currently have a limit of $25,000 in tools coverage with a $1,000 sub limit for any one item. This means that if you have items that are worth more than $1,000, you should schedule them to be positive the policy will respond correctly. Each policy and company are a little bit different with their options, so it could all be discussed prior to quoting.
These are all conversations our agents would have with you to make sure your policy is tailored to your individual needs.
Here are some questions that would come up:
- Do you take all of your tools with you in your truck to every job?
- Do you have a lot of tools that always remain in your workshop area, and only some come with you to the job sites?
- Do you have much larger items that need to be specifically listed (example: zero-turn mower, high valued generator, an air compressor valued at $4,000)
- Do you own skid steers, paving equipment, or excavation equipment that needs to be insured?
It seems to be a lot of information, but we can help you navigate the process and suggest the best way to protect your livelihood. After all, if your skid steer is one of the main pieces of equipment used on all of your jobs, what would you do if it was stolen? It would be imperative that you have listed correctly in order for your company to cover it.
We are here to educate you and protect all the pieces of your business together on one comprehensive policy.
