Protect Against Loss of Tools
April 16, 2019
Tools & Equipment Insurance
Your products and equipment are the backbones of your success as a company, which is why it is so important to make sure they are adequately protected. With tools and equipment insurance, you can have peace of mind that your assets are covered in the event of accidental damage, theft, or loss.
Your tools and equipment insurance coverage will depend on the type of policy purchased. Here are some tips for ensuring that all of your products are properly protected:
- Cover the full value of your tools, otherwise, you will have to pay the difference out-of-pocket.
- Unless you have a new for old policy, the amount of money you receive from a claim won't necessarily be exactly what you paid when purchasing new.
- Be sure to take security measures to protect your tools and equipment and prevent theft.
- High-value items should be specifically listed and value should be assigned
- Most tool policies will provide coverage anywhere within the U.S.
Contact us at Bay Area Insurance to learn more about insuring your tools, products, and equipment. If you have any questions or concerns, feel free to reach out to us directly at 410-647-7333.