Contractors equipment is inherently mobile in nature, thus several specialized Inland Marine forms and coverages have been developed to meet the needs of this class of business.

Actual Cash Value
This valuation method pays for the cost to replace or rebuild damaged property, less depreciation of that damaged property. Back to top

Agreed Amount Valuation
This endorsement amends the loss valuation method used on listed equipment to an agreed amount basis, rather than a actual cash value basis. With it your company agrees that the amount of coverage purchased is adequate and any coinsurance requirements are waived. Back to top

Blanket Equipment Coverage
This coverage is used to provide blanket protection for insured equipment under a single amount of insurance. Each year, you will submit a list showing the item and value to be covered in the policy. Any new equipment purchased during the year will automatically be covered under the form. The advantage of this coverage is that it eliminates the administrative burden of reporting equipment acquired during the policy year. Back to top

Contractors Equipment Floater
This policy is designed to cover your mobile equipment while it is stored on premises, in transit or at temporary locations or jobsites. Larger equipment items are specifically scheduled with separate amounts of insurance applying to each covered piece. Miscellaneous smaller items are grouped under a single blanket limit subject to a maximum value for any one item per loss. Back to top

Conversion Coverage
This endorsement is used to eliminate the exclusion in the policy for loss resulting from the voluntary parting of your property, if induced by fraudulent scheme, trick or device. Back to top

Crane/Boom Operations Coverage
This endorsement is used to extend the Equipment policy to include coverage for loss or damage to cranes or derrick booms while in operation. Back to top

Drilling Equipment BI/EE
This coverage will protect you against loss of revenue due to the suspension of operations during the time required to replace your equipment after damage by a covered peril. Extra Expense insurance will cover additional expenses necessary to continue your operation during the period of time required for replacement of your equipment. Back to top

Drilling Rig Floater
This policy is specifically designed for drilling contractors to provide coverage on equipment, materials and supplies usual to the job site. Several additional endorsements can be added to this form to "customize" the coverage to fit your needs. Back to top

Earthquake
This coverage is used to extend your policy to provide protection against loss due to earth movement including earthquake shocks and volcanic eruption. Back to top

Employees Tools Coverage
This endorsement is used to extend coverage to protect the tools of your employees while used in their jobs. It is needed since their personal policies exclude coverage for tools used in business. Back to top

Equipment Loss of Income
This coverage is used to protect you against loss of anticipated earnings resulting from loss of use of key equipment which is stolen, damaged or destroyed. This includes limited extra expense if you can show that the expenses reduce the loss. Back to top

Equipment Rental Reimbursement
This coverage is used to reimburse you for expenses incurred from the rental of substitute equipment when such rental is made necessary by
loss or damage to an insured item caused by a covered peril. Back to top

Flood Coverage
The coverage is used to provide protection against loss due to damage by flood as specified in the form. Back to top

Leased or Rented by Insured
When added, this endorsement provides automatic coverage for unscheduled equipment rented or leased from others. Standard Equipment policy provisions require you to schedule any equipment for it to be covered. Back to top

Leased, Rented or Loaned to Others
When added, this endorsement extends coverage for your scheduled equipment when it is temporarily leased, rented or borrowed by others. Standard Equipment policy provisions exclude coverage for activities of this nature. Back to top

Mechanical/Electrical Coverage
This endorsement is used to extend the Equipment policy to include coverage for listed mobile equipment against loss resulting from mechanical breakdown or electrical injury. Standard forms exclude coverage for these perils. Back to top

Mobile Equipment as Automobiles (CA2015)
The Contractors Equipment policy can be modified to eliminate the exclusion for equipment including vehicles, motor truck or trailers designed primarily for highway use. This is important since this provision could pose a problem for those particular items that fall under this definition which have been insured on an Inland Marine policy rather than your Auto form. Back to top

Modify Standard Exclusions
Every standard Contractors Equipment policy contains several coverage exclusions. As part of your risk management program, one or more of
these can be eliminated or modified to more appropriately cover your particular needs. Back to top

Named Perils Coverage
This coverage is used to protect your covered property against direct loss arising from one of the perils listed in your policy. To recover, you must prove that the loss was caused by one of these listed perils. Back to top

Newly Acquired Equipment
When added, this endorsement provides automatic protection for equipment that you acquire during the policy period. Equipment must fall within the additional acquired definition in the policy and is limited to a percentage of the policy limit as listed on the policy. Back to top

Replacement Cost Valuation
When added, this endorsement changes the policy's loss valuation from an "actual cash value" to a "replacement cost" basis. The market value of your insured equipment can be thousands of dollars less than the replacement value needed to replace such equipment. This endorsement ensures full replacement without deduction for depreciation. Back to top

Rigger's Liability
This coverage is used to provide legal liability protection against loss of personal property of others while it is in your care, custody or control during hoisting or lifting operations. Back to top

Scheduled Equipment Coverage
This coverage is used to insure scheduled items for the amount listed in the policy. Additional equipment you wish covered must be reported to the company for coverage to go into effect. Back to top

Special Perils Coverage
This coverage will protect covered property against direct loss arising from any cause not specifically excluded. The advantage of form is that your insurance company must prove that a loss is specifically excluded in order to deny coverage under the policy. Back to top

Underground Equipment Coverage
This endorsement is used to waive the "underground" exclusion for specified equipment if damaged while being used for tunneling, excavating, drilling or other below ground purposes. Back to top

Weight of Load/Overload Coverage
This endorsement is used to extend the Equipment policy to cover loss caused by the hoisting of materials that exceeds the lifting capacity of specified crane(s). Back to top