Protect Your Essential Tools and Keep Your Business Running Smoothly
Tools & Equipment Insurance
Fortify Your Foundation:
Essential Coverage for Your Tools and Equipment
Comprehensive Coverage:
Protects a wide array of tools and equipment, from small hand tools to large machinery, against theft, loss, and accidental damage.
In-Transit and On-Site Protection:
Ensures tools and equipment are covered both while being transported and when in use on the job site, providing all-encompassing security.
Replacement Cost Value:
Offers coverage based on the replacement cost, allowing for the purchase of new items of similar kind and quality without considering depreciation.
Customizable Policies:
Allows for either scheduled coverage for specific high-value items or blanket coverage for a general list of tools and equipment, tailored to your business needs.
Leased or Rented Equipment Coverage:
Extends protection to include equipment that is leased or rented, ensuring that all tools vital to your operations, regardless of ownership status, are safeguarded.
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Fingertips at LiteSpeed
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Get Instant Certs on your Fingertips at LiteSpeed
Manage your Policies
Create Instant Certificates on the GO!
FAQs for Tools and Equipment Insurance
It covers theft, loss, or damage to tools and equipment used for business, including items in transit and on job sites.
Yes, many policies offer the option to include coverage for leased or rented tools and equipment.
No, standard wear and tear or mechanical breakdowns are typically not covered under Tools and Equipment Insurance.
Yes, you can schedule specific items for coverage, ensuring high-value tools and equipment are adequately insured.
The replacement cost is usually based on the current market price of new equipment of similar kind and quality, without deducting for depreciation.
Yes, policies generally have a deductible that must be paid before coverage kicks in, which can vary based on your policy terms.
Consider the total value of your tools and equipment, focusing on replacement costs, to determine the appropriate coverage amount.
Coverage territory can vary; some policies offer worldwide protection, while others may be limited to certain locations or regions.
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