Tools and Equipment Insurance for Colorado Springs Contractors

Your general liability policy doesn't pay when your own tools are stolen from the truck or your equipment is damaged on the job. Contractor's equipment coverage, also called inland marine, does. We quote it across multiple carriers for Colorado Springs contractors.

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What It Covers

Coverage	What it handles
Tools and small equipment	Hand tools, power tools and gear, usually on a blanket basis up to a per-item limit.
Scheduled equipment	Larger items listed by make, model and value, such as a skid steer, compressor, trailer-mounted equipment or scaffolding.
Theft	Stolen from your truck, trailer, jobsite or storage, subject to the policy's theft conditions.
Damage	Covered causes such as fire, wind, hail, vandalism, collision or overturn in transit.
Rented or borrowed equipment	Equipment you rent or borrow, when the policy includes it. Rental companies often require proof.
Materials and installation	Materials in transit or being installed until the job is accepted, through an installation floater.

Why GL and Auto Don't Cover It

General liability covers damage to other people's property, not your own tools.
Commercial auto covers the vehicle, not the tools inside it.
A homeowners policy usually excludes or tightly limits business equipment.

That gap is where most contractors find out they weren't covered. See general liability and commercial auto for what those policies do handle.

Choices That Change Your Price

Replacement cost or actual cash value (actual cash value subtracts depreciation)
Deductible amount
Blanket limit and per-item limit for unscheduled tools
Which larger items you schedule individually
Theft protections like locked vehicle or storage requirements

To quote, list your larger equipment with year, make, model, serial number and value, plus a total value for your hand and power tools.

Tools and Equipment Questions

Are tools stolen from my truck covered?

They can be, if your policy covers theft from a vehicle. Many policies require the vehicle to be locked with signs of forced entry, so read that condition before you need it.

Should I insure tools at replacement cost?

Replacement cost pays to buy new equivalent tools. Actual cash value subtracts depreciation, so older tools pay out less. Replacement cost costs more but matches what you'll spend to get back to work.

Can this be added to my business owner's policy?

Sometimes. Some carriers offer a contractor's tools endorsement on a BOP or package policy, while others write it as a separate inland marine policy. We'll compare both.

See all contractor insurance services, coverage by trade and general liability insurance.

Coverage is subject to policy terms, conditions, limits and exclusions.