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.
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 a gap most trades face.
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.
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Frequently asked questions
Will the policy pay if tools are stolen from my truck overnight?
Read the theft conditions. Many contractor's equipment forms require that the vehicle or job box was locked and that there are visible signs of forced entry, and some limit theft from an unattended vehicle overnight. Ask us to show you the exact wording before a claim, not after.
What records make a tools claim go smoothly?
A list of your tools and equipment with serial numbers, receipts or invoices where you have them, and recent photos. Keep a copy somewhere other than the truck. For a theft, file a police report right away; insurers usually ask for one.
Are my employees' own tools covered?
Not automatically. Many floaters cover only property you own, rent or lease. Some offer an employee-tools extension with a small sub-limit. If your crew brings their own gear, ask us to add it.
What deductible makes sense on a tools policy?
Think about the losses you actually have. If most claims would be a single drill or saw, a high deductible means paying those yourself. If your worry is losing a trailer-load of tools or a machine, a higher deductible can trim the premium. We quote more than one option.