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Your tools and equipment are essential to running your business. If they are stolen, lost or damaged, this coverage will get you back to work fast by paying for replacements or repairs.
Make sure your gear is protected all the time, everywhere — including in your vehicle, stored in a trailer or at a job site.
Tools and equipment insurance is available as an add-on to our general liability insurance for contractors.
An essential piece of heavy machinery gives out — days after the warranty expires.
A trailer of gear or equipment on a job site goes missing — and needs replacing — fast.
Another contractor loans you an expensive power tool that breaks and needs replacing.
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.