Tools, Equipment & Materials Insurance in Massachusetts

Standard property policies or basic business owner’s policies (BOPs) don’t always fully protect mobile equipment and materials on the move. That’s where specialized coverage—often written as inland marine or contractors’ equipment insurance—comes in.

Risman Insurance Agencies helps contractors throughout Massachusetts explore coverage options for:

• Tools and small equipment
• Larger mobile equipment
• Materials in transit or at the jobsite
• In-progress work on certain projects

Insurance coverage cannot be added, deleted or changed until confirmed in writing from our office.

Key Categories of Property to Consider

Tools & Small Equipment

Contractors depend on tools every day, including:

• Hand tools, power tools, and ladders
• Compressors, generators, and nail guns
• Specialty trade tools for electrical, plumbing, HVAC, carpentry, landscaping, roofing, and more

Depending on the policy, tools can be insured on a blanket basis up to a set limit, or individually scheduled when values are higher. Coverage can vary for:

• Theft from vehicles or jobsites
• Mysterious disappearance
• Off-hours storage at your yard, shop, or jobsite

We help you review how your tools are covered—and where gaps may exist—under your current policies.

Contractors’ Equipment

Larger equipment is often insured separately as contractors’ equipment. This might include:

• Skid steers, mini-excavators, and compact tractors
• Scaffolding, staging, and manlifts
• Landscape and snow equipment such as mowers, plows, sanders, and loaders
• Specialty trade equipment used on multiple jobsites

These items are frequently moved between locations and may be stored outdoors, in yards, or at jobsites. A well-designed contractors’ equipment policy may help address:

• Fire, theft, and vandalism
• Certain weather-related losses
• Damage while equipment is in transit

We can help you decide which items should be scheduled individually and which can be grouped.

Materials & Supplies

Materials represent a major cost on many projects, including:

• Lumber, roofing, siding, drywall, and finishes
• Mechanical, electrical, and plumbing materials
• Pavers, stone, and landscape materials

Coverage for materials can depend on where they are located:

• At your shop or yard
• In transit between locations
• Stored at or installed on a jobsite

For some operations, we may discuss:

• Installation floaters to help cover certain materials from the time they leave your control until installation
• Builders risk for larger projects, covering certain materials and work in progress, subject to policy terms

Common Questions We Help Answer

“Are my tools covered if they’re stolen from my truck?”

Coverage can vary. In some cases, a standard policy may provide limited protection—or exclude certain theft scenarios entirely. We help you review your current policy and explore options that specifically address tools stored in vehicles or at jobsites.

“Do I need to list every tool?”

Not always. Smaller tools may be covered under a blanket limit, while higher-value items (such as large saws, compressors, or certain equipment) may need to be itemized. We can help you prioritize what belongs on a schedule and what can be grouped.

“What about rented or leased equipment?”

If you regularly rent equipment, we’ll review:

• How the rental agreement allocates responsibility for damage
• Whether your policy extends to leased or borrowed equipment
• Whether separate coverage or higher limits are needed for rented items

Massachusetts Considerations

While we don’t provide legal or tax advice, Massachusetts contractors should keep in mind:

• Contracts may require certain limits or proof of equipment and materials coverage.
• Lenders or equipment finance companies often have specific insurance requirements.
• Municipal or commercial jobs may expect proof of coverage for tools and equipment used on their premises.

We can help you understand how these requirements relate to your insurance program and coordinate with your other advisors.

Why Contractors Choose Risman Insurance Agencies

As an independent agency based in Medford, MA, we can:

• Access multiple carriers that understand contractors’ equipment and inland marine coverage
• Help compare options for tools, equipment, and materials insurance
• Review your existing policies for gaps that could affect jobsite or in-transit property
• Adjust schedules and limits as your business grows and you add or retire equipment

Our goal is to keep the insurance side simple, so you can stay focused on running your jobs safely and efficiently.