Heavy equipment insurance for excavators, skid steers and loaders
Heavy equipment insurance is the contractors equipment floater applied to the big iron: excavators, skid steers, wheel loaders, dozers, backhoes and telehandlers. Each machine is listed by serial number and covered on the job, on the trailer and in the yard.
Machines this page covers
Underwriters look at each type of machine a little differently, because the losses are different. Here is what tends to matter for the most common ones.
Excavator insurance
Excavators are among the most stolen pieces of construction equipment, and many share a small number of common keys. Underwriters ask about GPS tracking, immobilizers and where the machine sits overnight. Rollover on a slope and damage while loading onto a trailer are the other common claims.
Skid steer insurance
Skid steers and compact track loaders are small enough to load onto a trailer in minutes, which makes them easy to steal. Attachments such as buckets, augers, breakers and mulchers can be scheduled with the machine or covered under a blanket limit, so ask how yours are listed.
Loader, backhoe and dozer insurance
Wheel loaders, backhoes and dozers carry higher values and work in rough conditions. Fire from debris packed around the engine, overturn, and damage from falling rock are the losses to ask about.
Telehandler and aerial lift insurance
Telehandlers, boom lifts and scissor lifts tip over when overloaded or driven on soft ground. Many are rented rather than owned, so check whether your policy covers rented equipment as well as the machines you own.
Apply online
The online application asks the questions underwriters need for this coverage. Business owners fill it out directly, and insurance agents can complete it for a client or send it to them. Insurance agents can also request an appointment.
What heavy equipment insurance usually covers
- Theft and vandalism, including theft from a job site, subject to the policy's security conditions
- Fire, lightning, wind and hail
- Collision and overturn
- Damage while the machine is loaded, hauled or unloaded
- Rental reimbursement on many policies, to pay for a replacement while yours is repaired
What it usually does not cover
- Wear and tear, rust and gradual deterioration
- Mechanical or electrical breakdown, unless an equipment breakdown endorsement is added
- Damage to tires, tracks and cutting edges by themselves, on many forms
- Liability for injury or damage the machine causes to others, which belongs on general liability or commercial auto
How to get a heavy equipment insurance quote
- List each machine with its year, make, model, serial number and the value you want covered.
- Note any attachments and their values, and whether you want them scheduled or under a blanket limit.
- Write down where the equipment is kept overnight and how the yard and job sites are secured.
- Gather lender or lessor names and the loss payee wording they require on the certificate.
- List any losses in the past 3 to 5 years, even small ones.
- Start the contractors equipment application, or ask your agent to complete it with you.
Heavy equipment insurance or an equipment floater?
They are the same coverage under different names. An equipment floater, also called contractors equipment or inland marine equipment coverage, covers the machine itself wherever it goes. The same policy can also cover equipment you rent from others and equipment you rent out. See the equipment floater page for how the parts fit together.
Common questions
Does heavy equipment insurance cover machines I rent?
It can. Many equipment floaters include, or can add, a limit for heavy equipment rented or leased from others, which can be used in place of the rental company's damage waiver. Check the limit against the value of the largest machine you rent.
Does my general liability policy cover my excavator?
No. General liability covers injury and damage you cause to others. Damage to or theft of your own machine needs an equipment floater or other inland marine coverage.
Is a skid steer covered by commercial auto?
Usually not. Skid steers and most other construction machines are mobile equipment, not autos, so they are insured on an inland marine equipment floater. The truck and trailer that haul them go on commercial auto.
Do I need to insure a financed excavator?
Most lenders and lessors require it, with them listed as loss payee. The certificate goes to the lender once coverage is bound.
Does GPS tracking lower the premium?
Some underwriters give credit for GPS tracking, immobilizers and fenced storage, and some require them for high-value or high-theft machines. Mention them on the application.
Need a contractor license bond?
Many states and cities require a contractor license bond before you can get licensed or pull permits. Find the bond your state requires.
Ready for a quote?
One online application. Owners and agents both welcome.
Start the contractors equipment applicationRelated coverage
Equipment Floater
Covers mobile equipment wherever it goes: the yard, the trailer, and every job site in between.
Coverage & applicationOwned Equipment
Scheduled or blanket coverage for the machines and attachments you own or finance.
Coverage & applicationEquipment Rented From Others
Covers machines you rent or lease for a job, so a rental contract loss doesn't come out of pocket.
Coverage & applicationWhat Affects the Cost
The rating factors that move a contractors equipment premium up or down.
Coverage & application