All Reno contractors have a significant number of property loss exposures from work vehicles, equipment, tools, building materials and more which can suffer damage or theft. However, artisan contractors often face greater loss exposures when it comes to protecting their specialty equipment. Certain artisan trades require and commonly utilize highly specific tools and equipment, which can be both expensive and hard to fix or replace. While some use hand tools, others may only use powered tools or heavy machinery. Regardless, a contractor’s tools and equipment are not only a huge investment, they are fundamental to their successful operation.
Oftentimes these business assets become the result of insurance claims. According to experts, theft losses, especially for tool claims, comprise the largest percentage of commercial losses. Some reports estimate that tool and equipment theft represent of one-third of all equipment claim losses for contractors. Depending on your skillset and expertise, you may perform the majority of your work on site or you may work primarily out of your shop. Theft losses are more common for artisan contractors who work onsite at a construction jobsite, as opposed to in their own shops.
Yet, theft is not the only risks tools and equipment face. Breakdowns, malfunctions and misplacement are also common reasons artisan contractors file equipment loss claims. It is not uncommon for tools to be left behind or damage either on the jobsite or while being transported between locations. Luckily, Reno artisan contractors can protect themselves from these losses with the property insurance coverage.
At Cal-Nevada Insurance Agency, our Artisan Contractors Insurance Programs offer complete property and liability coverage for Reno contractors. Whether you are looking to protect your high-end, commercial grade tools and equipment direct from the manufacturer, or standard industry tools, our experts can help you craft business property and equipment breakdown insurance that meets you needs. To learn more about our Reno Artisan Contractors Insurance programs, contact us today at (866) 670-5948.