What It Covers

Contractors Equipment policies cover all types of owned or leased equipment used to move and lift objects, and build, erect, and excavate in all types of environments. The mobile nature of contractor's equipment and the diverse use of this equipment are addressed though a flexible product that can be tailored to customers of all sizes. The Contractors Equipment policy typically covers direct physical loss of or damage to equipment at a job site, in a storage yard or in transit.

Who Needs It

Contractor's equipment is owned or leased to perform specific functions. Use of the equipment is directly related to generating revenue, fulfilling a contract or providing maintenance. Without working equipment or the means to replace equipment as soon as possible, a contractor's obligations cannot be fulfilled. Our Contractors Equipment policy helps owners expedite the repair or replacement of equipment damaged by a covered cause of loss or stolen. In addition, because of the high cost of the equipment, many banks and lending institutions require insurance on it.

Any business entity with a financial interest in construction equipment or other heavy equipment needs Contractors Equipment insurance. Typical policyholders include:

• Real Estate Developers
• Building Owners
• Home Builders
• General Contractors
• Municipalities
• Street and road contractors
• Excavation Contractors
• Port Facilities
• Warehouse Operations