The basics

What is tools & equipment insurance?

Tools & equipment insurance is a portion of inland marine coverage.

Essentially, it’s what covers your work gear while away from your business premises. This could mean while your tools and equipment are in transit, or even while your items are at other locations and job sites.

What started out as a policy protecting cargo while traveling through the sea, inland marine — often referred to as tools & equipment — has developed into a much more robust coverage. 

This form of insurance covers borrowed equipment, damaged gear, and even stolen tools. Let’s say you forgot an important tool at another job, and have to borrow a fellow contractor’s brad nailer. Something happens and it conks out. Tools & equipment will pay for replacement or repair costs.

You know when you’re at a home improvement store and you’re checking out, and the cash-register-from-the-future asks you if you’d like to add a protection plan? Well, let’s say you didn’t. And your super expensive equipment breaks down. What to do? Pay for it out-of-pocket? No way! Make sure you have some tools & equipment coverage and let insurance pay for the damages. This policy starts out from only $15/month.

Who needs it?

Let’s say your primary business location is a workshop. Or a studio. A garage. Your house. Whatever! If you have business property insurance, it will protect your goods while you’re at the physical location. However, once you’re more than 500 feet off premises, the coverage ends. That’s where tools & equipment insurance kicks in. It fills the gap! And, quite affordably — at that.

If you tend to take your work equipment with you to other locations, you’ll definitely want to consider this type of insurance. It’s kind of hard to lay tile for a new house from your shop. And it’s really hard to do a photoshoot on the river from your studio. Catch our drift?

We get it, you go places! This tools & equipment insurance moves with you. Not only that, this coverage is also great for those who store their equipment at temporary locations or storage units.

If you have goods you want to protect, you’ll want this coverage. If your business items are damaged, stolen, or lost, tools & equipment will take care of the damages. 

So whether it’s power tools, saws, drills, light kits, or cameras you’re interested in covering… tools & equipment can handle it.

Tools & equipment coverage is perfect for:

Coverage highlights


Such as computers, cameras, light kits, and medical equipment.
Mobile equipment

Such as bulldozers, trailers, and food trucks.
Property in transit

Such as supplies, inventory, and tools.

The basics

How much does tools & equipment cost?

Protecting your business, and your bank account, is priceless. But since most things have price tags… let’s dive into the costs of tools & equipment insurance.

The cost is definitely a lot less than paying for replacement and repair costs out-of-pocket! In fact, tools & equipment insurance is pretty inexpensive. The cost depends on how much coverage you need.

For many, tools & equipment insurance could cost as little as $15/month.

The best way to find out for sure is to get a free estimate. We work with top providers to get you the best coverage at the right price. Completing a quote only takes three minutes! So, what are you waiting for? Get a quote.