Tools & Equipment Insurance
Do I Need Tools & Equipment Insurance?
Yes — if you carry more than $5,000 in tools or equipment, a separate tools policy is essential. General liability and commercial auto won’t cover your gear.
Call (234) 231-8427 — Mon–Fri 9AM–5PM EST
Do contractors need tools and equipment insurance?
Your tools and equipment are the physical capital of your contracting business. Without them, you can’t work. Yet most standard business insurance policies — general liability, commercial auto, workers’ comp — don’t cover the tools themselves.
A tools and equipment policy (also called inland marine or a contractor’s equipment floater) covers your tools from theft, fire, vandalism, and accidental damage wherever they are — on the job site, in your truck, or in storage.
For most contractors, a $25,000–$50,000 blanket tools policy costs $400–$700/year. That’s less than the cost of replacing a single set of specialty power tools.
Get the right tools coverage today.
Trade Safe shops dozens of A-rated carriers to find you the best tools & equipment policy for your trade.