Tools & Equipment Insurance in PA
Inland marine coverage for the tools and equipment that move with your crew — on the truck, on the job, in the shop.
We shop carriers including
A general liability policy does not pay to replace your own stolen drill, your laser level, or the skid steer that walked off the job overnight. Tools and equipment coverage — written as an inland marine policy, sometimes called a contractor's equipment floater — does. It covers your movable tools and equipment against theft, loss, and damage wherever they are: on the truck, at the jobsite, or in the shop. For a working contractor insurance program it closes one of the most common real-world losses a trade faces.
Coverage splits by value. Small tools — hand and power tools under a threshold, often $1,500 each — are usually covered on a blanket limit, so you carry, say, $10,000 in small tools without scheduling each one. Larger equipment such as compressors, generators, trailers, and machinery is scheduled individually by serial number at its value. We build the schedule to match what you actually own so a claim pays the real replacement cost, not a depreciated guess.
Two details decide whether the policy works at claim time: replacement cost versus actual cash value, and coverage for borrowed, rented, or leased equipment. A floater on actual cash value pays depreciated value, which on a five-year-old compressor is a fraction of replacement. We write replacement cost where it is available and add rented or leased equipment coverage if you rent machinery, because the rental contract makes you responsible for it.
Tools coverage pairs naturally with general liability on most trades. Start a Pennsylvania contractor quote with a rough inventory and value of your tools and equipment.
Frequently asked questions
Does general liability cover my stolen tools?
No. GL covers third-party injury and damage, not your own tools. Tools and equipment (inland marine) coverage pays to replace your stolen or damaged tools wherever they are — truck, jobsite, or shop.
How does small-tools coverage work?
Small tools under a threshold (often $1,500 each) are usually covered on a blanket limit — you carry a total, like $10,000, without listing each. Larger equipment is scheduled individually by serial number.
Should I insure equipment at replacement cost or actual cash value?
Replacement cost where available — actual cash value pays depreciated value, a fraction of replacement on older gear. We write replacement cost so a claim actually re-equips you.
Is rented or leased equipment covered?
Only if you add it. Rental contracts make you responsible for the machine, so we include rented or leased equipment coverage when you rent — otherwise a damaged rental is out of pocket.