Equipment Floater Insurance Coverage
We sell the top 5 Builders Risk policies that write 95% of all Builders Risk Insurance in America
Call Us Now! and Get your Builders Risk Insurance Today!
Equipment Floater Insurance
Tools and machinery that move often from one job site to another need protection from possible damage, loss, or theft. Equipment Floater Insurance covers this need by protecting movable equipment while they travel or sit in temporary storage at various locations.
What Is Equipment Floater Insurance?
Equipment Floater Insurance protects portable equipment, tools, and machinery that move between job sites. It's a form of inland marine insurance. Standard property insurance covers assets at one location, but equipment floater policies safeguard your assets wherever they go. This coverage is ideal for businesses that depend on mobile equipment for their work.
Who Needs Equipment Floater Insurance?
If your work depends on hauling costly equipment, Equipment Floater Insurance acts as a key safety measure. Here are some people who can benefit from this type of coverage:
What Does An Equipment Floater Cover?
What Is Not Covered?
Equipment Floater vs. Installation Floater
While Equipment Floater Insurance and Installation Floater Insurance both fall under inland marine insurance, there are some notable differences:
Equipment Floater Insurance
- Protects mobile equipment, tools, and machinery that move between job sites.
Installation Floater Insurance
- Covers materials and equipment being installed at a job site. This policy applies until the installation finishes and starts working.
If you're a contractor who installs equipment and often moves tools, you might need both types of insurance to be completely protected.
Equipment Floater Insurance Costs
Expect to pay around $500 to $3,000 per year. Although Equipment Floater Insurance costs will vary considerably depending on the needs of your business. Here are the main things that affect the cost of your insurance:
Value of the Equipment:
- When someone steals materials or tools while they're on the way or on-site.
Location and Transport Frequency:
- Your premium goes up if you often move your equipment to risky places, like areas where crime is common.
Coverage Limits:
- Choosing higher coverage limits means you'll pay more, but you'll get better protection.
Deductibles:
- If you pick a higher deductible, you'll pay less for your premium. But when you need to make a claim, you'll have to pay more out of your own pocket.
Small businesses spend $500 to $3,000 per year on Equipment Floater Insurance. This cost varies based on equipment value and coverage requirements.
Get Equipment Floater Insurance
If you want to get an exact cost for Equipment Floater Insurance, we encourage you to get quotes now from our experienced agents.
Our experienced agents are well versed in home coverage. After understanding your home insurance needs, our agents can usually reduce policy prices through additional discounts of 10% to 15% from the instant quotes you receive.
We provide the finest comprehensive plans for your business by providing:
- Knowledgeable, licensed insurance agents
- Same-day coverage in most instances
- Coverage from A-rated insurance companies
- Ability to offer policies nationwide
- The lowest price for the best Insurance coverage in the industry
