Does Inland Marine Cover Equipment?

Contractors’ equipment is a common inland-marine form. In the illustrative AAIS wording, the insured selects scheduled equipment or a schedule-on-file option, and property must satisfy the form’s description requirements. Chubb likewise presents contractors’ equipment as a distinct insurance product with its own coverage options. Neither source means that all equipment is automatically insured.

Before binding, compare the equipment schedule and limits with your inventory, including newly purchased, rented, leased, borrowed, and customer-owned items. Check where the equipment is covered, whether transit is included, how theft and water damage are treated, and whether breakdown or wear is excluded. Ask how claims are valued and whether replacement-cost payment has conditions.