Contractors equipment
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.
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
Ineligible risks:
- Cranes with booms exceeding 25 feet in length
- Waterborne equipment
- Select other operations
Geography:
- Nationwide except HI
Submission requirements:
- A completed ACORD 125 is required of all submissions
- Currently valued loss runs for the most recent prior 3 years
- Provide information on type of contractor and work performed
- Schedule of equipment, including manufacturer, year, model, serial number and limit of insurance
Coverages offered:
The program provides physical damage coverage to mobile equipment, machinery and tools typical of construction equipment.
Coverage limits:
- Up to $500,000 per item and $10 million per schedule
- Higher limits may be available, subject to underwriting
Admitted or non-admitted paper:
- Admitted
Additional coverage options available:
- Rented/leased equipment limit
- Replacement cost
- Rental reimbursement
- Various deductibles starting at $500
- Minimum premium $500
