What we write
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Eligible equipment & operations
- Mobile machinery, equipment, and tools used by contractors, written all-risk on a scheduled basis
- Coverage at the jobsite, at the insured's premises, and in transit between them within the coverage territory
- Scheduled equipment under AAIS forms IM 7000 (broad) and IM 7001 (limited)
- Rented or leased equipment, added to the schedule within three months when over the optional sublimit
- Optional waterborne sublimit for equipment that becomes waterborne in an unanticipated way
- Cranes of any type
- Vehicles of any type, including equipment mounted on a vehicle while on the road
- Underground or waterborne equipment and boats of any type
- Logging-specific equipment — skidders, feller bunchers, and similar
- Mining or drilling equipment, pivots and irrigation equipment, and farm combines
- Recycling, tire shredding, metal crushing, and tree grinding or trimming equipment
- Aviation or airborne equipment, and drones
Coverage scope
- Scheduled equipment on an attached schedule or, under IM 7000, a schedule kept on file
- Blanket and bulk-scheduled tools
- Open-lot or floor-plan risks
- DIC coverage, or any coverage written on a DIC basis
- Business interruption or time-element coverage
- Reporting-form options (not available in this program)
Eligibility & experience
- Insureds demonstrating pride of ownership and jobsite safety and security controls
- New ventures under three years where the owner or primary operator has 2+ years of relevant experience (documented)
- Trailing five-year loss history supporting a 50% or better loss ratio
- Three or more paid losses in the trailing five years (declined or referred)
- Any risk non-renewed by a prior carrier for non-compliance with loss-control recommendations
Catastrophe & location
- Storage yards outside coastal Tier I wind zones and flood hazard areas
- Storage yards in Tier I Wind Zone Territory A, or within one mile of the West-coast coastline
- Storage yards in Tier I Wind Zone Territory B and less than five miles from the coastline
- Storage yards within 1,000 feet of a Special Flood Hazard Area (SFHA)
Key coverages
Our Contractor's Equipment Product
All-risk coverage for mobile machinery, equipment, and tools used by contractors, written on AAIS Inland Marine forms IM 7000 (broad) and IM 7001 (limited). Coverage applies at the jobsite, at the insured's premises, and in transit between them. Full form and endorsement schedule available on request to appointed brokers.
Core coverages
Scheduled equipment Any one piece $500,000
Owned equipment listed on the Equipment Schedule (IM 7030), or on a schedule kept on file under IM 7000.
Maximum per schedule Per occurrence $5,000,000
Maximum limit per occurrence per equipment schedule.
Small tools Per item $1,000
Bulk-scheduled tools, including via the Tools or Small Tools endorsements.
Equipment in transit Coverage Included
Covered equipment is insured while in transit between a jobsite and the insured's premises within the coverage territory.
Optional endorsements
Rented or leased equipment Endorsement IM 7012 / 7037
Equipment leased, rented, or borrowed from others; added to the schedule within three months when over the optional sublimit.
Rental reimbursement Endorsement IM 7014
Reimbursement for equipment rental following a covered loss.
Waterborne coverage Endorsement IM 7019
Sublimited coverage for eligible equipment that becomes waterborne in an unanticipated way.
Trailers & spare parts Endorsement IM 7024
Construction trailers and spare parts added by endorsement.
Any one piece
$500K
$1,000 for tools.
Max per schedule
$5M
Maximum limit per occurrence per schedule.
Deductibles
$1K–$2.5K
$1,000 under $50K TIV; $2,500 for $50K and higher.
Minimum premium
$800
All states except California ($1,000 in CA).
Submission requirements
Streamlined quoting.
With our AI-powered submission ingestion, we're submission format agnostic — send us what you have and we will reach out if we need anything further.
Commonly submitted
- ACORD forms (125, 146)
- Equipment schedule: year / make / model / serial / value
Recommended additions
- Photos of primary equipment
- GPS / telematics details for equipment over $50,000
- Copy of rental agreements for leased equipment
- Claims detail narrative for any loss over $50,000
- List of employees with owned-tool coverage, if elected
Prefer our format?
Download the Altruis Group application — Excel or fillable PDF. List every piece of equipment right on the application's Equipment Schedule tab.
Ready to submit a Contractor's Equipment risk?
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