What is Tools & Equipment insurance?
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.
From power tools to safety supplies, if it’s essential to your work, it’s essential to protect it.
Equipment damage
An essential piece of heavy machinery gives out — days after the warranty expires.
Stolen tools
A trailer of gear or equipment on a job site goes missing — and needs replacing — fast.
Borrowed gear
Another contractor loans you an expensive power tool that breaks and needs replacing.
Learn more about Tools & Equipment insurance
Who needs equipment insurance?
Some industries and professions that can benefit most from this insurance coverage include:
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Landscaping
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Construction trades
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Cleaning and janitorial services
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Contractors
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Plumbers
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HVAC professionals
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Electricians
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Carpenters
Tool and equipment insurance is a smart choice for anyone who brings their own equipment to different locations to get a job done.
What can insurance for tools and equipment cover?
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Employee tools and equipment.
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Essential work clothing and safety gear.
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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:
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Sanding power tools
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Saws
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Laser levels
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Dust-control systems
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Ladders and workbenches
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Power drills
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Blowtorches
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CNC routers
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Oscillating multi-tools
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Concrete moisture meter
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Stand lights
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Hearing protection
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Helmets and safety gear
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Power tubing cutters
What’s not covered by contractors equipment insurance?
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:
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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.
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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.
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Costs beyond the limit of your policy. Read your policy carefully to understand its limits.
How much does insurance for tools and equipment cost?
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:
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The type of work you do
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Number of employees
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Your claims history
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Your work experience
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The limits you choose
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The state where you work
Get a free quote for T&E with general liability online to see specific costs for your business.
How do you get Tool and Equipment insurance at NEXT?
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.
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