As a business, your tools and equipment are often one of the most important assets of your business. It allows you to operate smoothly and damages and/or the loss of these assets can create huge financial losses. Tools and equipment insurance is just one category of physical assets that can be insured under commercial property coverage which helps repair or replace stolen or damaged assets and ultimately it mitigates some of the financial risks of owning or leasing tools and equipment.
Tools and equipment insurance helps with repairs, replacements, and other expenses if any of your tools or equipment are lost or damaged by an insured peril. Whether you’re a large company, general contractor, mid-sized specialized subcontractor, a small business, or an independent contractor, you need tools and equipment insurance.
With ALIGNED, you can find affordable, comprehensive tools and equipment insurance packages that fit the unique needs of your business. Our specialists work closely with you to understand the industry you work in, the services you provide, and the tools and equipment you rely on to provide you with the best options to choose from. Once we do the hard work, all you have to do is choose which insurance policy you want. It’s really that simple!
Why Is Tools And Equipment Insurance Important?
Your business might rely on multiple tools and pieces of equipment to operate and provide your services and do your work. These tools can be specialized and cost a lot of money to repair or replace. Even if you only own a few tools and pieces of equipment, you don’t want to be worried about the potential financial loss if something unexpected was to happen and we all know that theft from job sites is a significant issue and concern.
Here are some of the risks you might face with your tools and equipment:
- Your replacing the electrical wiring in an office cafeteria and a small fire breaks out. Your tools are burned and all the tools are damaged beyond repair.
- You work at a construction site and someone vandalizes your equipment beyond repair.
- While moving it with a forklift you drop your expensive piece of equipment and have to replace it.
- Tools and equipment left overnight on a job site are stolen.
Without proper insurance, it can cost your business a lot of money to repair or replace tools and equipment. That’s why it’s important to equip your business with tools and equipment insurance from ALIGNED.
Equip Your Business With The Right Tools And Equipment Insurance
Tools and equipment insurance covers the costs of repairs or replacements for your tools and equipment up to the policy limit. This applies to tools and equipment that are owned, leased, or rented and are in storage, in transportation, or left at a client’s location.
Find The Right Tools And Equipment Insurance From ALIGNED
ALIGNED works with Canada’s top insurance companies to provide custom insurance packages at affordable prices. Click Here To Get A Quote or contact one of our business insurance experts for information or with any questions you may have.