Note: This is a general summary of coverages and it is not intended to give complete policy information. All coverages and exclusions
are found in the policies.
Coverages
referenced on this website may not be available in all territories and
may vary depending on the exposure. Minimum premiums may vary by State. Coverages and services described in this website are generally stated for the purpose of promotion. The material does not modify or amend the terms, conditions, or coverages of any policy. Please ask your Supple-Merrill & Driscoll, Inc. representative to explain coverage details, exclusions, limits or other provisions of any insurance policy.
What
types of equipment can be covered?
1. Owned Equpment
2. Office
Contents
3. Rented
Equipment
4. Miscellaneous unscheduled equipment. Limited to $500 Max
per item and $10,000 max per Policy.
5. Additional Coverages
i)
newly purchased items reported within 45 days of purchase,
up to lesser of $250,000 or 25% of scheduled limit.
ii) Debris
Removal -the lesser of $100,000 or 10% of the scheduled
limit
iii)
Employee's Tools - $5,000 any one loss for all employees,
subject to a max of $500 per employee
Coverage is provided for damage,
destruction or loss resulting from covered losses that include but
are not limited to: fire, theft, vandalism, breakage and water
damage. If equipment is newer than 5 years, coverage is provided
for the cost to repair or replace equipment with new equipment. If
equipment is older than 5 years, it will be covered at Actual Cash
Value.
Coverage
Territory
The coverage
territory is The United States of America, The District of
Columbia, Puerto Rico and Canada.
Major
Exclusions
1. Wear and tear,
electrical surge, mechanical breakdown, confiscation by
government, dishonest acts, intentional damage, damage while
being repaired, and mysterious disappearance.
2. Plans, blueprints,
specifications, designs, records, or any similar property
3. This policy excludes coverage
entirely for:
- Sub-renting
equipment that you have rented, leasing or loaning others.
- Property
while waterborne - Aircraft, watercraft, automobiles,
trucks, trailers, semi-trailers, motorcycles, motor
scooters, or any other vehicles designated primarily for
highway use.
- Any Crane
equipment or logging equipment - Any equipment principally
used underground
