One of the greatest risks contractors face, are their tools and equipment being stolen or lost. Contractors can protect themselves from financial loss by covering the smaller assets that help get the job done with the proper insurance coverage.
Commercial Tools & Equipment insurance is coverage designed to protect damaged or missing contracting equipment by covering small tools, employees’ equipment, and clothing, and borrowed equipment.
In the event of a covered loss, Tools & Equipment insurance coverage can help pay for the removal of debris and cleanup after an accident. Contractors’ insurance may help cover losses due to theft and can help pay the costs to expedite a project that is off schedule as the result of a covered loss.