What’s the Right Insurance for Tools Stored Offsite?
If you’re a contractor, tradesperson, or small-business owner, chances are your tools don’t stay neatly tucked inside your shop. They’re in your truck, a storage unit, or at a job site — wherever the work takes you. Unfortunately, that mobility also brings risk. Theft, weather damage, or an unexpected accident can turn a normal day into a costly setback. The good news is that the right business insurance — including inland marine insurance — can help keep your tools protected, no matter where the job leads.
What Inland Marine Insurance Covers (and What It Doesn’t)
Many business owners assume their property insurance automatically covers tools and equipment. However, most standard policies only protect what’s physically kept at the primary business location.
If your tools are stored in a work van, trailer, client site, or off-site warehouse, those same protections may not apply in the event of incidents away from your headquarters.
With inland marine insurance, you can protect property that moves from place to place — including equipment, materials, and tools used on job sites. It covers theft, vandalism, fire, and certain types of accidental damage while your items are in transit or temporarily stored elsewhere.
However, it’s important to know that inland marine does not cover everything. Wear and tear, mechanical breakdowns, and improper storage are typically excluded.
Coverage Options for Tools Stored Off-Site
If you regularly transport or store tools away from your main location, inland marine insurance (sometimes called contractor’s equipment coverage) is often the best fit. It protects items like drills, compressors, and generators, whether they’re in a company vehicle, on a trailer, or at a job site.
For example:
- A set of power tools stolen from a locked truck overnight
- A generator damaged in a warehouse fire
- Equipment destroyed during transport between job sites
Each of these losses could be covered under an inland marine policy, not a basic small-business insurance plan. Reviewing your current coverage can help identify whether it covers these off-site risks or if you need additional protection.
Tips To Reduce Risk and Secure Coverage
Even with good insurance, prevention is key. A few practical steps can go a long way in securing job sites:
- Keep an updated inventory: Record serial numbers, model details, and photos of your tools.
- Lock up and label: Use sturdy locks, storage boxes, and visible ID markings to deter theft.
- Track and review: Use GPS trackers for high-value equipment, and review coverage limits regularly with your insurance advisor.
Oakwood Risk Insurance Solutions helps business owners build policies that fit how and where they actually work — including coverage for tools that don’t stay in one place.
Stay Covered on the Move
Standard insurance often stops at your shop door, but your work doesn’t. Inland marine coverage fills that gap, ensuring your tools are protected wherever the job takes you. By pairing the right coverage with smart security practices, you can keep your business running smoothly even when the unexpected happens.
Contact Oakwood Risk to find out how the right mix of business insurance can protect your equipment everywhere it goes.
FAQ About Insurance for Tools & Equipment
Does business insurance cover stolen tools?
Usually not, if they’re stolen from a job site, vehicle, or storage unit. Inland marine insurance can cover theft that happens off-site.
What type of insurance covers equipment stored off-site?
Inland marine insurance (sometimes called contractor’s equipment insurance) protects tools and equipment that travel between sites or are kept off the main property.
How can small businesses protect tools kept in vehicles or storage units?
Secure tools in locked compartments, use GPS tracking for expensive items, and make sure your policy specifically covers tools stored or transported offsite.
Oakwood
Oakwood Risk provides industry-leading insurance services, solutions, and counsel to our clients. Our professionals are valued for their ability to provide outstanding customer service, with a commitment to the relentless pursuit of value-added solutions, results, and comprehensive coverage.
