Type Of Insurance Contractors May Need

Replacement Newly Acquired Pollutant Cleanup Extra Expense Theft

Contractor's tools Insurance Risk

The tools and equipment contractors use are quite expensive. In fact, many contracting companies like yours will rent, lease or borrow some types of equipment because it is not cost effective to purchase the item outright. If you cannot justify the cost of ownership, leasing or renting are much more viable ways to still have the use of the equipment and have it be affordable. If something happens to those tools or the specialized equipment while it’s in your care however, you may find yourself legally and financially responsible for the full cost of what was lost or destroyed. If your company is unable to afford purchasing equipment outright, do not put yourself at risk of having to pay for a leased version instead.

Tools And Equipement Insurance For Artisan Contractors

artisan contractor tools and equipment insurance

Tools and equipment insurance for contractors provides protective benefits for your business during those times that you have valuable property in possession that does not belong to you. Whether your company needs to rent a crane so that you can complete one of your contracts, or you need to lease equipment so that you’re capable of fulfilling the needs of a new job you recently won, if you’re unable to fully afford the cost of ownership then leasing and renting expensive equipment is the best way to go. When you have property in your possession however, it becomes your full responsibility. Tools and equipment insurance provides you with a way to protect your business if something goes wrong with the equipment while it’s in your care.


Depending upon the coverage selection you choose, contractor tools and equipment insurance can protect you up to the full cost of replacement if the equipment and tools that are in your care are damaged or destroyed.

Newly Acquired

When you replace equipment or add new tools, your contractor tools and equipment policy extends protection to them automatically. If anything happens to the newly acquired items within the specified initial period of time, the covered costs will be paid by your policy.

Pollutant Cleanup

Some types of damage that occurs to large equipment or tools will cause pollutants to be spilled. If, for instance, your company is leasing the use of a bobcat or backhoe and that machine is damaged in a mudslide, part of the cleanup cost will involve removing the hazardous materials such as diesel fuel, that were spilled when the machinery was damaged.

Extra Expense

Some of the specialized equipment that your contracting company must lease or rent as needed cannot be quickly or easily repaired. If you must wait too long for parts and repair services, you’ll find that you have the added unexpected cost of renting or leasing a replacement tool. This extra expense can be covered by your contractor tools and equipment insurance, so that you are not faced with paying for it directly.


If covered equipment and tools are stolen while in the possession of your company, your contractors tools and equipment insurance pays for the associated replacement or loss costs.

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