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business equipment insurance


In your small business, there are many factors that keep the ship sailing smoothly. To keep your company up and running, you need to protect your people and products. Often, when we think about small business coverage, our first thought is our people, but what about our tools and equipment? Business equipment insurance is something that many people should consider when looking to protect their business.  

So, who needs business equipment insurance?

According to the Insurance Information Institute, water damage, wind and hail damage, and burglary and theft are the three most common business insurance claims in the US. Often, these disasters can cause significant and costly damage to imperative business equipment. Equipment insurance can help to provide coverage for damage or loss incurred to your business property, alleviating some additional stress from your shoulders.  

Typically, business equipment insurance will cover losses up to a specified amount if the equipment is less than five years old. While incidents such as natural disasters, weather, theft, and vandalism are covered in most equipment policies, things such as wear and tear, age, or misuse are not. When considering a policy, ensure that your business needs and equipment align with the coverage under consideration.  

Types of businesses that benefit from business equipment insurance: 

If your tools play a significant role in your day-to-day operation, equipment insurance should be on your radar. These industries rely on their equipment to get the job done; thus they benefit the most from these policies. 

  1. Construction 
  1. HVAC 
  1. Plumbers and Technicians 
  1. Landscapers 
  1. Electricians 

When it comes to insurance, policies are not one size fits all. Knowing your needs clearly will help when deciding the type of coverage that is best for you and your business. Be prepared for the unexpected so that you do not miss a beat when life goes unplanned.  

Learn more about the coverages Coterie Insurance offers for small businesses like yours and connect with a licensed insurance agent or broker.