Equipment may sit at a shop, jobsite, customer location, vehicle, storage unit, or employee home. Coverage decisions should follow where the item goes and how its failure affects delivery.
Reviewed July 20, 202601 · Inventory
Track assets and movement
Record owner, serial number, value, location, age, maintenance, security, and whether the item is leased, rented, borrowed, or customer-owned.
Compare inland marine, contractor’s equipment, property, breakdown, and rental forms as applicable.
Ask whether theft from vehicles, unexplained disappearance, flood, mechanical failure, and off-premises use are included.
Model rental and lost-income needs during replacement.
02 · Continuity
Insure the downtime as well as the object
A modest tool can stop a valuable job. Keep spare, rental, repair, and supplier plans for critical equipment.