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.
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 cover other common risks. Landscaping professionals should also consider:
General liability insurance: This policy can cover expenses related to customer injuries and property damage, such as a client who sues over damage to a lawn.
Business owner's policy: A BOP bundles general liability coverage with commercial property insurance to protect against the most common business risks.
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: Workers’ comp can cover medical costs for work injuries. It's required in almost every state for businesses that have employees.
Cyber liability insurance: A cyber liability policy helps landscaping businesses recover from data breaches and cyberattacks that expose sensitive information.
License and permit bonds: Landscapers might need a surety bond to get a license in their state, or to do specific types of work.
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.