The contractor’s tools and equipment Missouri Insurance covers the repair or replacement of tools and equipment Missouri used by a contractor in case they are lost, stolen, or damaged. It is usually needed by businesses that have their employees drive from site to site for work. It protects a contractor’s tools, equipment, and other things they might use on a site or even store there at a site. It can be added to your commercial property insurance policy.
One thing that must be made clear is that it does not cover wear and tear.
You can call now and talk to our tools and equipment Missouri coverage expert for advice and recommendations on a policy tailored around your specific needs, or you can fill out our “get a quote form” for a free, no-obligation quote based on your requirements.
What Does Tools And Equipment Missouri cover?
tools and equipment Missouri policy usually covers hand tools, power tools, machinery, and other equipment that is constantly shifted from site to site; however, they must be less than five years old.
Contractors’ tools and equipment Missouri Insurance covers
- Stolen tools and equipment
- Also called equipment floater insurance, will replace all tools under coverage, in case of theft, even in transit. For example, if an electrician’s toolbox is stolen, while he is on a job, it will be covered.
- Broken or damaged tools and equipment
- It also covers broken or damaged tools for repair or replacement, however, normal wear and tear is not covered. Or example, on a construction site, a forklift runs into a wall, damaging its front. The repair will be covered by the insurance policy.
- It also covers the cost of removal or repair of the damage caused by vandalism, like graffiti or breakage. For example, a contractor’s bulldozer is painted over and damaged by vandals who invaded the construction site at night. It will be repaired under the protection of the tools and equipment Missouri Insurance policy.
- Leased or rented tools and equipment
- You can add rented or leased tools and equipment Missouri to your policy, including getting equipment on loan while waiting for your own equipment to be repaired. For example, while waiting for the replacement of a wrong-sized ladder, a roofer can get one on rent.
You can also add your tools and equipment to your BOP so you can bundle it up and save on cost. You can call now and talk to our tools and equipment Missouri coverage expert for advice and recommendations on a policy tailored around your specific needs, or you can fill out our “get a quote form” for a free, no-obligation quote based on your requirements.
Cost of Tools and Equipment Missouri
Contractor’s tools and equipment policy can have varied costs, really depending on a lot of factors. These include:
- The risk factor of your specific industry
- Value of the tools and equipment you want to have insured
- Coverage type based on named and open perils
- The frequency of property being moved