This policy helps pay for repair or replacement of a contractor’s tools and equipment if they are lost, stolen, or damaged. The items typically must be less than five years old.
Commercial property insurance covers your building (if you own it) and its contents, but it doesn’t cover mobile property. Whether you provide lawn maintenance or tree removal services, your landscaping business likely involves transporting equipment, tools, and other supplies. That's why you may need contractor’s tools and equipment insurance, which covers work items no matter where you take them.
This policy typically provides coverage for:
If you run a small landscaping business, you may want to look into adding contractor’s equipment insurance to your general liability insurance or business owner's policy (BOP). This insurance provides coverage for up to $10,000. For more expensive equipment, you may need inland marine insurance.
Contractor’s tools and equipment insurance is a type of inland marine insurance designed specifically for contracting and construction businesses. Talk to a licensed Insureon agent about contractor’s equipment coverage for your lawn care or landscaping business.
When you apply for contractor’s tools and equipment insurance, you’ll provide an estimate of how much your landscaping equipment is worth. A licensed Insureon agent will help you secure a policy that matches your business risk and equipment value. You'll get the right amount of protection, without paying for more than you need.
Contractor’s tools and equipment insurance protects the equipment you need to run your business, but it doesn’t provide coverage for other common risks. Landscaping professionals should also consider:
Commercial auto insurance: This policy covers vehicles owned by your landscaping business. It typically pays for accidents, vehicle theft, and certain types of damage.
Workers’ compensation insurance: Required in almost every state for landscaping businesses that have employees, workers’ comp can cover medical costs for work injuries.
Are you ready to safeguard your landscaping business with contractor’s tools and equipment insurance, or another policy? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage in less than 24 hours.