Marine Insurance Contractors Equipment

3 Great Ways to Save

As an insured of Atlanta Life, you can receive these value-added discounts and savings:

• 20% savings on the registration fee for the National Equipment Register (NER)
• Premium discount on scheduled equipment that’s registered with the NER or similar program
• Waiver of your theft deductible in the event of loss to scheduled equipment:
• If that equipment has an operational location tracking device
• Or if it’s registered with the NER

Whether you own a large construction firm or a midsize contracting business, your tools, machinery and mobile equipment are major investments. If they’re stolen from a job site, destroyed by a fire, or vandalized, your business suffers.

Prevail Over Loss with the Right Protection

You can’t always avoid losses. But you can manage your risk with the right insurance protection. With contractor’s equipment coverage from Atlanta Life, you’ll have the protection you need – and the service you expect – to keep your construction business going.

Coverage Highlights

Replacement cost coverage. With Atlanta Life, scheduled equipment less than five years old at the time of loss is covered on a replacement cost basis. We also have additional endorsements that can provide enhanced valuation options for qualifying contractor’s equipment accounts, including:

• Agreed value
• Enhanced replacement cost

Newly Owned Equipment

Your policy from Atlanta Life can extend coverage for newly owned property acquired after your policy is in effect. Coverage can include this equipment on:

• Scheduled policies, which have a time frame and value limitation, or
• Annual reporting policies, which provide coverage without time or value limitations, unless your policy states otherwise

Equipment Leased or Rented to Others

If your construction company leases or rents equipment to other contractors, this coverage is crucial. When a covered cause of loss results in damage to such scheduled property, the policy provides:

• Up to $50,000 coverage in any one occurrence

Equipment leased, rented or borrowed from others. You need coverage for damage to equipment owned by others that’s unscheduled while the equipment is in your possession. Atlanta Life’s policy provides:

• Up to $100,000 automatically included. Higher limits are available, contact your underwriter.

Contractor’s Rental Expense

Under a leasing or rental agreement, you may have to pay fees even though the equipment you were using is no longer available. Atlanta Life’s policy can cover charges incurred under a written agreement, if the equipment is damaged by a covered cause of loss, with this limit:

• Up to $25,000

Hauling Others’ Property

Leased, rented or borrowed construction equipment spends time in transit to or from a job site or storage area. Our policy provides liability coverage for damage to others’ equipment while you’re transporting it, with this limit:

• Up to $50,000 in liability coverage

Expediting Expenses

Specialized or customized construction equipment may be hard to replace. To expedite delivery of replacement tools and equipment in order to maintain your work schedule, you may incur additional labor or freight costs. Our policy can cover reasonable expenses, with this limit:

• Up to $25,000

Employees’ Tools and Clothing

Our policy includes coverage for loss of employees’ tools and clothing while on or in transit to or from a job site, with these limits:

• Up to $1,000 per employee, and
• $5,000 per occurrence

Miscellaneous Tools and Equipment

In addition to your most valuable tools and equipment, you may have a variety of smaller tools you prefer not to schedule. Our policy may provide coverage for such unscheduled tools and equipment while on or in transit to or from a job site, with these limits:

• Up to $5,000 per item, and
• $25,000 per occurrence

Pollutant Cleanup and Removal

When equipment in transit is involved in a road accident, pollutants may be released. Atlanta Life’s policy covers expenses you incur by court order to remove or extract pollutants from land or water, with these limits:

• Up to $10,000 per loss, and
• Up to $25,000 per policy period

Reward Coverage

Our policy covers expenses you pay leading to the successful return of undamaged covered property to a law enforcement agency, or the arrest and conviction of persons who damaged or stole the property. Reimburses you:

• Up to $5,000 for rewards you pay

Fire Department Service Charge and Fire Device Recharge

In the event of a fire, Atlanta Life’s contractor’s equipment coverage provides:

• Up to $25,000 in liability coverage for fire department service charges
• Up to $25,000 to recharge a manual or automatic fire device used to fight a fire

Debris Removal

In today’s environment, removing and disposing of damaged property after a loss can be surprisingly expensive. We pay 25 percent of the amount payable for loss to the covered property (subject to the deductible). If the expense exceeds the 25 percent limitation, we’ll pay an additional amount:

• Up to $25,000
• You’ll have 180 days to report the loss

Claim Expenses

Atlanta Life’s policy may reimburse you for expenses that you incur in preparing claim data requests, with this limit:

• Up to $25,000

Note:

Atlanta Life can provide higher limits of insurance on the essential additional coverages described above and found in the contractor’s equipment coverage form.

Service Backed by Specialized Knowledge

Your business has unique challenges, deadlines and pressures. We understand. You can depend on Atlanta Life for:

• Construction Risk Engineering consultants and information that can help you reduce the risk of loss to your equipment
• Marine specialists who work directly with your insurance agent or broker
• Prompt, fair claims service when a loss occurs, so you can get back to business