When working off-site, your General Liability or Commercial Property policy doesn't always cover your tools, equipment and computers.
Standard property coverage is typically designed to protect the assets located at your business address. If you have tools and equipment that are constantly being moved from one location to the next, you may need tools & equipment (Inland Marine) coverage.
Tools & Equipment Insurance Coverages
What is Covered? Generally, any property that is “mobile” in nature, can be covered by this policy. For example:
- Tools and equipment for artisan contractors: tools and machinery at job sites, storage lots, and locations in between
- Fine art and exhibitions: covers the fine art while it is on display, in transit, and on loan
- Camera equipment for photographers
- Truck cargo: any goods being carried by the insured trucker
- Animals: covers theft, escape, or death resulting from specific perils
- Veterinarians: covers animals belonging to others while in your care
- Vending machines (not the contents though)
- Bailee's customer: protects your clients' property when left in your care
- Builder's risk: protects structures and materials during new construction projects or renovations
- Installation floater: can cover the materials of your trade from the moment they are loaded onto the truck until they are accepted, put to use, or installed
- Motor truck cargo: keeps your clients' goods protected while you deliver them
- Transit: provides protection for your goods while they are in transit to another location