Tools & Equipment Insurance

Your tools and equipment are essential to run your business when they’re in your vehicle, stored in an offsite trailer or shed, or at a job site.

Tool and equipment coverage could help get you back to work quickly and help with replacement or repairs if they’re stolen, lost or damaged.

We offer it as an add-on to NEXT general liability insurance for contractors and cleaning businesses.

Tool insurance could help if:

• Your equipment is stolen from a trailer. If someone breaks in while you’re in transit to a job and takes all of your tools.**

• Your tools are stolen from a job site. If a generator and half of your specialty tools go missing while you’re on the job.

• Someone damages your equipment. Your employee accidentally punctures your air compressor, and you’ll need a replacement before you can complete your project. T&E Select Pro or Pro Plus coverage can also help with equipment borrowed from someone else.

Some industries and professions that can benefit most from this insurance coverage include:

• Landscaping

• Construction trades

• Cleaning and janitorial services

• Contractors

• Plumbers

• HVAC professionals

• Electricians

• Carpenters

Tool and equipment insurance is a smart choice for anyone who brings their own equipment to different locations to get a job done.

• Employee tools and equipment.

• Essential work clothing and safety gear.

• Equipment or tools you’ve borrowed from someone else to use at the job site.

Some examples of tools and equipment that could be covered by your policy include:

• Sanding power tools

• Saws

• Laser levels

• Dust-control systems

• Ladders and workbenches

• Power drills

• Blowtorches

• CNC routers

• Oscillating multi-tools

• Concrete moisture meter

• Stand lights

• Hearing protection

• Helmets and safety gear

• Power tubing cutters

Tool and equipment insurance covers a lot if your tools go missing — but it won’t cover everything.

Be sure to check your policy for everything that will and won’t be covered. But some instances where tools and equipment insurance won’t provide coverage include:

• Corrosion, rust or wear and tear. If your power cutter is so rusted it’s no longer usable, it wouldn’t be covered by your policy.

• Equipment you rent from someone else. Rental equipment such as a wood chipper isn’t usually covered by your policy, but you could opt for insurance through the rental company directly.

• Costs beyond the limit of your policy. Read your policy carefully to understand its limits.

Tools and equipment insurance is an addition to NEXT’s general liability insurance policy.

Basic tools and equipment coverage can start at just $19 a month.^†

And if you bundle general liability with an additional policy, such as workers’ compensation insurance to cover work-related injuries or illnesses for your employees, you could save up to 10%.

Your specific commercial insurance cost is determined by several factors, including:

• The type of work you do

• Number of employees

• Your claims history

• Your work experience

• The limits you choose

• The state where you work

Get a free quote for T&E with general liability online to see specific costs for your business.

You can buy tools and equipment insurance as an add-on to your general liability coverage 100% online in about 10 minutes.

Simply start a free quote to see options for your business. We’ll ask you a few questions and recommend coverage options.

If you like what you see, you can adjust the package limits and buy online. You’re insured immediately after payment, and you’ll have access to your certificate of insurance at no extra cost.

Start a free quote with NEXT today.