Your Tools are Your Trade: All About Inland Marine Insurance for Plumbers

For any plumbing contractor in Michigan, your tools and equipment are more than just gear—they are the lifeblood of your business. Your pipe cutters, wrenches, and specialized diagnostic cameras are what allow you to earn a living. But what happens if they are stolen from a worksite or damaged in a transit accident? A single loss can cost thousands of dollars and stop your business dead in its tracks.

While the previous posts in our plumbing insurance series covered the essential of insurance and the foundational shields of general liability, this article focuses on a more specialized but equally vital policy: Inland Marine Insurance. It’s the crucial protection for your tools and equipment needed to keep your business running smoothly.

What is Inland Marine Insurance?

Inland Marine Insurance
is designed to cover your business property—specifically, your tools, equipment, and materials—while they are being transported or are at a temporary location. Unlike a standard commercial property policy, which only covers items at your main office or shop, Inland Marine goes with you wherever you go.

For Michigan plumbers, this is essential because your business is constantly on the move. Your tools are rarely sitting idle at a single address. Instead, they are in your van, at a client’s home, or stored in a trailer on a job site. This policy protects them in all of those locations.

Why You Need Tools and Equipment Insurance for Plumbers

Think about the high-value equipment you use every day. Your sewer camera, pipe threading machine, and diagnostic tools are not cheap. Losing them can be a major financial setback. Inland Marine insurance protects against common risks that would not be covered by other policies.

Consider these scenarios:

• Theft from a Job Site: You leave a trailer filled with expensive tools and  equipment at a commercial project overnight. Thieves break in and steal everything. Your Inland Marine policy would cover the cost of replacing the stolen gear.
• Transit Damage: While driving to a job, your work van is in an accident. The collision damages several of your power tools and shatters your diagnostic camera. This policy would pay for the repairs or replacement, separate from your Commercial Auto coverage.
• Accidental Damage: A sudden, heavy rainstorm floods a basement where you’ve left a pipe fusion machine, completely ruining it. Inland Marine insurance would cover the damage.

What Inland Marine Insurance Covers (And What it Doesn’t)

This policy typically covers:

• Theft: Your tools are stolen from a vehicle, job site, or storage unit.
• Fire & Water Damage: Equipment is damaged by a fire or a flood.
• Vandalism: Your tools are damaged by an act of vandalism.
• Collision: Damage to tools and equipment while in transit during a vehicle accident.

What it generally does NOT cover:

• Wear and Tear: Standard degradation of tools due to normal use.
• Mechanical Breakdown: The cost to repair a tool that simply stops working.
• Poor Workmanship: If a tool is damaged because it was used incorrectly.

The Bottom Line for Michigan Plumbers

For Michigan plumbing contractors, having a dedicated tools and equipment insurance for plumbers policy is a strategic move. It ensures that even if disaster strikes your tools, your business won’t grind to a halt. It's an indispensable layer of protection that goes hand-in-hand with your other core policies.

A crucial tip for staying protected: Regularly update your insurance provider with an itemized list of your tools and equipment. As you buy or sell expensive gear, make sure your policy schedule is accurate. This ensures that you have proper coverage for everything you own, preventing a devastating financial loss down the road.

Protect the assets that drive your business. Contact Redwood Insurance Solutions today for a tailored quote on Inland Marine Insurance and safeguard your most valuable tools!