Blog · Coverage Explained
Coverage Explained
heavy equipment insurance guides in coverage explained, written and reviewed by Nate Jones, CPCU.
- Coverage Explained
Additional Insured and Loss Payee on Equipment
Two requests that arrive on the same contract and attach to opposite halves of a policy. Which one a lender wants, which one a general contractor wants.
- Coverage Explained
Agreed Value vs Actual Cash Value on Equipment
The valuation basis on your equipment schedule decides what a damaged machine settles for. Here is how each basis behaves on the day the claim is paid.
- Coverage Explained
Attachments and Small Tools Equipment Coverage
Sort the yard by what can prove its own value and the coverage answer sorts itself. Serial plates, blanket categories, crew-owned tools and wear items.
- Coverage Explained
Care, Custody and Control on Equipment Claims
A liability policy will not pay for property in your care. Here is what that means when the machine belongs to somebody else, and what answers instead.
- Coverage Explained
Deductibles, Coinsurance and Sublimits
Three separate things reduce an equipment settlement, and they act at three different moments. Here is the order they work in and what each one is testing.
- Coverage Explained
Loss of Use and Rental Reimbursement Coverage
A damaged machine stops earning the moment it stops working. Here is how downtime coverage behaves across the hours, days and weeks after a loss.
- Coverage Explained
Newly Acquired Equipment Reporting Window
A machine bought this week is covered on a timer, not permanently. What starts the clock, what reporting actually means, and what expires if nobody files.
- Coverage Explained
Rented, Leased or Borrowed Equipment Coverage
Rented, leased and borrowed machines are three different exposures, not one. Here is which coverage part answers for each, and where the gaps sit.
- Coverage Explained
Scheduled vs Blanket Equipment Coverage
Two ways to put machines on an equipment policy. Which one fits depends on how your fleet is shaped and how fast it turns over, not on how big it is.
- Coverage Explained
Transit Coverage vs Commercial Auto
Two policies are live during one equipment haul, and they insure different things. Follow a machine from yard to job and the boundary becomes obvious.
- Coverage Explained
Umbrella and Excess Over an Equipment Program
A second layer sits over liability, not over your machines. Here is what it attaches to, how excess differs from umbrella, and which claims ever reach it.
- Coverage Explained
What an Equipment Floater Does Not Cover
Every exclusion on an equipment floater exists for a reason. Sort them by that reason and the form stops reading like a trap and starts reading like a map.
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