Contractors’ Equipment Insurance
This coverage was developed to help protect commercial operations owning valuable mobile equipment. It provides coverage for construction machinery, equipment and tools of a mobile nature used in contracting, installation, erection and repair, or moving operations or projects.
Business owners: Contact your insurance agent or broker
Insurance agents
Call a specialist now 847-762-7178
Appetite
The following types of operations may be considered in this program:
- Street and road contractors
- Concrete and asphalt batch plants
- General construction
- Grading contractors
- Steel erection companies
- Landscaping operations
- Roofing contractors
- Artisan contractors, including carpentry contractors, drywall contractors, electrical contractors, masonry contractors, HVAC contractors and plumbing contractors
Geography
- Nationwide except Hawaii
Ineligible risks
- Cranes with booms exceeding 25 feet in length
- Waterborne equipment
- Select other operations
Coverages offered
- The program provides physical damage coverage to mobile equipment, machinery and tools typical of construction equipment.
- A completed ACORD 125 is required for all submissions
- Currently valued loss runs for the most recent prior three years
- Provide information on type of contractor and work performed
- Schedule of equipment including manufacturer, year, model, serial number and limit of insurance
- Up to $500,000 per item and $10 million per schedule
- Higher limits may be available, subject to underwriting
- Rented/leased equipment limit
- Replacement cost
- Rental reimbursement
- Various deductibles starting at $500
- Minimum premium $500
- Admitted