What is Equipment Floater Insurance?

Equipment Floater Insurance provides specialized coverage for portable business equipment that moves from location to location. Unlike standard property insurance that typically only covers assets at a fixed address, an equipment floater ensures your valuable tools, machinery, and equipment are protected wherever they are used—whether on a job site, in transit, or temporarily stored.

Why do you need Equipment Floater Insurance?

For businesses that rely on moving equipment between locations, such as construction, landscaping, and contracting companies, Equipment Floater Insurance is essential. Standard commercial property policies often exclude items that leave your primary business premises, leaving your tools and machinery vulnerable to damage, loss, or theft while on the road or at a job site. With an equipment floater, you’re covered no matter where your work takes you.

What does Equipment Floater Insurance cover?

Equipment Floater Insurance can provide coverage for:

  • Contractor’s Equipment: Protects mobile equipment such as excavators, backhoes, bulldozers, and other machinery used in construction or land development.
  • Tools and Small Equipment: Covers items like power tools, generators, and other portable equipment that are essential to your operations.
  • Electronic Equipment: If you rely on technology like cameras, surveying instruments, or computer systems that need to move with you, an equipment floater ensures they are protected wherever they go.
  • Theft, Vandalism, and Accidental Damage: Your equipment is safeguarded from risks like theft, vandalism, fire, water damage, or accidental breakage, whether on the job or in transit.

Frequently Asked Questions about Equipment Floater Insurance:

Q: Does Equipment Floater Insurance cover rented equipment?
A: Yes, equipment floater policies can extend to rented or borrowed equipment, protecting you against liability for damage to these items while they’re in your care.

Q: What is the difference between Equipment Floater and Inland Marine Insurance?
A: Equipment Floater is a type of Inland Marine Insurance specifically designed for portable business equipment, offering protection when your items are transported or used at various locations. Inland Marine coverage can include other types of moveable property as well.

Q: How do I determine the value of my equipment for coverage?
A: You’ll want to insure your equipment for its replacement cost value, which is the amount needed to purchase new equipment of the same type and quality if your current items are damaged or stolen.

Is Equipment Floater Insurance Right for My Business?

If your business involves frequent transportation of tools or equipment to different job sites, then Equipment Floater Insurance is highly recommended. Industries such as construction, landscaping, contracting, or film production often require this type of coverage to safeguard essential machinery and tools.

What is Not Covered by Equipment Floater Insurance?

While Equipment Floater Insurance offers broad coverage, it typically excludes wear and tear, mechanical breakdown, or intentional damage. For those issues, businesses may need additional warranties or maintenance coverage.

Why should you use ArcLight Insurance to secure Equipment Floater Insurance?

At ArcLight Insurance, we understand the importance of keeping your business running smoothly and protecting your equipment wherever you go. Our team specializes in crafting policies that suit your unique needs, ensuring you have the coverage you need for your most valuable assets. We work with trusted carriers to find the best rates and terms for your business.

Get in touch today to learn how Equipment Floater Insurance can protect your business assets and keep your operations running smoothly, no matter where the job takes you.