Inland Marine Contractors' Equipment Insurance
Equipment loss can stop construction in its tracks. Distinct risks can threaten contractors’ equipment, from weather, theft and transit, to accidents caused by less experienced machine operators.
Did you know:
- Construction companies are losing over a billion dollars annually to theft and vandalism.1
- 33% of contractors’ equipment losses are due to a collision.2
- For six consecutive years, there have been 10 or more billion-dollar weather and climate disaster events in the U.S.3
Whether your equipment is used on job sites, such as an infrastructure project or stadium construction, or stored during non-use, Travelers inland marine contractors’ equipment insurance can make a difference for your owned, leased or borrowed equipment.
Contractors’ Equipment Insurance Coverage
Travelers is the leading inland marine contractors' equipment insurer. We strive to meet your needs with:
- Broad protection that is flexible enough to meet your equipment needs.
- Local account executives who understand your projects and the associated equipment coverage options.
- Limits and capacity to handle your largest and most complex heavy equipment schedules.
- Only a 24-hour waiting period after a loss for rental of replacement equipment.
Who Is Contractors’ Equipment Insurance Right For?
- Specialty trade and general contractors
- Real estate developers
- Building owners
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Does Contractors' Equipment Insurance Cover Rented or Borrowed Equipment?
Inland marine contractors' equipment insurance typically covers tools and equipment that a contractor uses to complete a project. It provides broad coverage for tools, clothing and heavy equipment in the contractor's possession at the time of the policy effective date. This insurance also covers tools and equipment purchased, rented, leased or borrowed after the policy's effective date for a period of time.
Does Contractors' Equipment Insurance Cover Theft?
Inland marine contractors' equipment insurance provides very broad coverage against loss. Coverage can include theft, vandalism and damage caused by fire, accidents, natural disasters like floods or lightning, and more. Your policy will clearly specify any risks or any type of equipment that is not covered.
One of the biggest risks that contractors face is theft of their tools and equipment. Inland marine contractors' equipment insurance is designed to protect against that risk. If covered tools or equipment are stolen, a claim representative will walk you through the process of filing a claim and getting you reimbursed.
What Is Inland Marine Network?
Travelers Inland Marine Network is our patented loss mitigation process that provides a competitive advantage for our customers. Our dedicated specialists in risk mitigation, Claim and special investigations identify and minimize risk to help keep your operations running smoothly. Our risk mitigation specialists can work with you before and throughout even your most highly engineered projects.
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