Oil & Gas - Contractor's Equipment Insurance
Contractor's equipment presents a great diversity of exposures in a wide variety of environments — onshore, offshore, in cities, in forests or mountains — virtually anywhere. To help keep these assets protected, Travelers Oil & Gas offers contractor's equipment coverage.
Covered Property May Include the Following:
- Scheduled equipment on the policy or in a separate schedule on file with us
- Unscheduled equipment you own or have in your care
- Unscheduled equipment you lease or rent from others
- Newly acquired equipment
- Pollution clean-up and removal
Valuation is actual cash value, with replacement cost option for newer equipment
Plus These Other Enhancements Included in Your Coverage:
- No weight or load exclusion
- No exclusion for collapse or collision of booms
- No flood exclusion
- No earthquake exclusion
- No coinsurance
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Travelers offers specialized services to help you prevent serious loss:
Our Risk Control professionals can assist you with management practices, fire prevention, weather-related perils and natural disasters, transportation, operator practices and security for your contractor's equipment.
Specialized claims teams are available 24/7 to help you keep operating in the event of a loss. You can be assured that when you need us, we’re here to help.
- Specialty investigative group that provides the investigation coordination and recovery efforts needed after a loss
- Specialty heavy equipment division that will perform expert appraisals and consultation
We understand that each oil and gas company has unique risks and exposures. Our knowledgeable Risk Control professionals, who are dedicated to the oil and gas industry, work with customers to help them understand and manage these risks.
Our Claim team specializes in handling losses that arise out of the oilfield, with proven expertise in understanding master service agreements (MSAs) and the importance of contractual risk transfer (CRT). We offer the power and resources of a national company, with local expertise and autonomy.