Tools Insurance

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    PBIB, Where Contractors Go To Get Insured!

    Tool insurance for contractors provides insures mechanics, contractors, woodworkers, and DIYers . We offer the most comprehensive tool insurance plans for mechanics, contractors and business owners. Our tool insurance plans can be used in thousands of locations across the country.

    Whether you’re an insurance adjuster, contractor, or a Do-It-Yourself mechanic, having the right coverage for your toolbox can help keep you protected. Get the right insurance for your tools by using this Tools Insurance guide.

    Contractors need to have proper coverage for their tools in order to avoid paying high deductibles and other fees when they use that tool. This article will explain how contractors can obtain the best possible coverage for their tools.

    Protect Yourself from Liability.

    One of the biggest reasons people fail to protect themselves with the correct insurance policies is because they think they won’t ever need them. However, there’s no reason to assume that you’ll never need to file a claim. If you do, you’ll want to make sure you have the proper coverage in place.

    Be Prepared for Unforeseen Events.

    It’s not uncommon for contractors to lose their equipment due to theft, fire, or other unforeseen events. Make sure you have the right coverage in place so that you aren’t left out in the cold when something happens.

    Buy Tool Coverage That Includes Theft Protection.

    If you’re an independent contractor, you’ll need to purchase commercial general liability (CGL) insurance as well as workers’ compensation insurance. CGL covers property damage caused by accidents at your job site, while workers’ comp protects employees who are injured on the job.

    Know what’s covered by your policy.

    It’s also important to understand exactly what’s covered under your policy. Make sure you know what’s not covered so you don’t pay out of pocket for something that should be included in your policy.

    Know what type of coverage you need.

    If you work as a contractor, you’ll likely need liability insurance. This protects you against any claims made by third parties who might be injured while using your equipment. In addition to liability insurance, you’ll probably need property damage insurance, which covers your equipment when it gets damaged. Finally, you’ll need workers’ compensation insurance, which provides medical benefits to employees who are hurt at work.

    Tool box Insurance provides all the tools and information you need to help you protect your tools and equipment from theft, damage, and more. Tools Insurance will help you save up to 40% on your insurance premiums. Tools insurance is a policy that combines tools with equipment and liability coverage. Policyholders receive compensation for the loss of eligible tools, such as hammers, hydraulic cords, and metal detectors. Protect your tools with a Tools box Insurance plan.

    The only tool insurance you’ll ever need is available at PBIB. We’ll deliver the right insurance and benefits to your job site. You can call now and talk to our tools insurance 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.

    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

    When a contractor, or anyone else needs to protect their interests from the risks of everyday life, they don’t want to be bothered with complicated contracts. An insurance tool kit not only provides core coverage for those risks; it also includes a library of forms that are customized by profession.

    tools insurance 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 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.
    • Vandalism
      • 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 insurance policy.
    • Leased or rented tools and equipment
      • You can add rented or leased insurance tool kit 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 insurance tool kits to your BOP so you can bundle it up and save on cost. You can call now and talk to our tools insurance 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.

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