Tools in Transit – What’s Covered?

Does Your Contractors Insurance Cover Theft and Damage to Tools While on the Move?

As a contractor, you are always on the go. Whether you’re picking up supplies, driving to a project site or meeting with clients, being in motion comes with certain risks. Tool and equipment theft is one of the biggest problems that contractors and construction professionals face. Since you rely so heavily on your tools to get the work done and turn an income, it is in your best interest to keep them safe. Fortunately, your contractors insurance in Los Angeles, CA can help.

Damaged and stolen tools can grind your contracting work to a halt. What’s more, the last thing you want to do is pay out of pocket to replace or repair the missing items – particularly the high-value ones. Luckily, the right contractor insurance can cover theft and tool damage.

Most contractors carry general liability coverage to protect them from the most common risks they face in the construction industry. General liability can step in to help in the event of a third-party bodily injury and property damage. That means that if you accidentally damage or destroy someone else’s heavy equipment or high-value tools, your insurance may cover the loss. Keep in mind that this policy won’t cover your losses for your own tools and equipment if they are los or stolen.

Insurance Options

Inland marine insurance is designed to cover property in transit over land and certain types of moveable property. If your construction tools are always on the go, be sure to consider this coverage. Another contractor insurance policy that may cover your construction equipment and tools is a builder’s risk insurance policy. This is designed to protect the owner of a construction project against fire, vandalism, theft, and other perils that happen during construction.

Protecting your tools doesn’t have to be expensive or complicated. Working with the right professionals can ensure that you get the right insurance for your tools, needs, and budget. For assistance with your unique coverage needs, contact the experts at Artisan Insurance Solutions to get started today.

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