Contractor & Business Coverage
If you use tools for business or contracting, your homeowner policy almost certainly does not cover them when used professionally.
Coverage Options
Section titled “Coverage Options”Inland Marine Insurance
Section titled “Inland Marine Insurance”Designed specifically for tools and equipment that move between locations. Covers tools:
- In your vehicle
- On job sites
- In transit
- In temporary storage
This is the most common choice for tradespeople and contractors.
Business Owner’s Policy (BOP)
Section titled “Business Owner’s Policy (BOP)”Broader business coverage that can include tools as part of business personal property. Often bundles:
- General liability
- Business property coverage
- Business interruption
Contractor’s Equipment Floater
Section titled “Contractor’s Equipment Floater”Similar to inland marine but specifically designed for construction and trade equipment. May offer better terms for high-value tools.
What to Document
Section titled “What to Document”Insurance companies need:
- Complete inventory with values (your ToolDB PDF report)
- Serial numbers for high-value items
- Purchase receipts as proof of value
- Photos showing condition
ToolDB stores all of this in one place.