- Attention to detail is crucial in contractors' equipment insurance

This unique article is a collaboration with Victor Insurance Managers LLC, focusing on the importance of contractors' equipment insurance. Jeff Benson, the contractors' equipment program manager at Victor Insurance Managers LLC, emphasizes the need for specialized knowledge in this area to avoid risks not being properly covered due to misclassification. The Victor team has developed a tailored program for contractors' equipment insurance, with coverage forms designed to address the unique exposures in this line of business.

With their years of underwriting experience and user-friendly online portal V2, Victor offers a seamless process for policy management. Contractors' equipment insurance covers essential mobile machinery like bulldozers and cranes, as well as lighter equipment like forklifts. Victor specializes in customizing coverage to meet the specific needs of insured parties, ensuring that projects can run smoothly and contractual requirements are met.

Specialized knowledge is key in understanding contractors' equipment insurance, with Victor's team focused on addressing specific issues such as equipment ownership, transportation, and coverage limitations to avoid gaps in coverage. By using the AAIS form for contractors' equipment and providing coverage extensions for additional risks, Victor ensures that coverage options are applied correctly. Victor stays up-to-date with market advancements in loss control measures, such as GPS tracking and fire suppression, to improve industry experience.

As the demand for contractors' equipment insurance increases with the growth of the construction industry, positive projections are seen for this line of business. Please note that this article was produced in collaboration with Victor Insurance Managers LLC, but the opinions expressed are those of the author and do not necessarily reflect the views of Victor Insurance Managers LLC.