Your tools and materials are most vulnerable when they’re on the road or at the job site. We offer two policies to protect them. 

Our Contractors Equipment policy covers your owned machinery and tools from theft or physical damage.

Separately, our cargo freight Insurance coverage protects the value of materials you haul to a project if they are damaged or lost along the way. Together, they provide essential protection for the assets you rely on every day.

How Much Contractors Equipment or Cargo Coverage Do I Need?

The amount of coverage you need depends on which asset you’re protecting. An OKFB agent will help you determine the right limit for each policy:

  1. For Your Contractors Equipment: The coverage limit should be based on the total replacement cost value of all the tools and machinery you own. We will help you create a detailed inventory, to ensure your limit is high enough to replace everything after a major incident.
  2. For Your Cargo: The limit for your cargo policy depends on the maximum value of the materials or goods you typically haul in a single load. You need enough coverage to protect your client’s property and your financial responsibility for the most valuable load you transport.

Contractors Equipment/Cargo Coverage Options & Features

Contractors Equipment Insurance Coverage (Protecting Your Tools & Machinery)

This is direct protection for the tools, machinery, and power tools that you own. It is designed to cover the cost of physical damage to your insured equipment.

Cargo Insurance Coverage (Protecting Client’s Materials in Transit)

This coverage protects the value of the goods or materials you are hauling for which you are legally responsible. If this cargo sustains physical damage while in transit in your covered vehicle, this policy is designed to cover that loss, protecting you financially.

PAYMENT OPTIONS & PREFERENCES

Convenient Payment Options

We offer many ways to conveniently pay your contractors equipment or cargo premiums. Choose from a full payment or a monthly automatic draft from your bank account. Check with an OKFB agent to see which option may be best for you.

Do you need to change your premium payment preferences?

We understand life happens. That’s why we allow our policyholders to easily update their payment preferences. Contact your OKFB agent to make a change.