Highland Insurance Solutions has launched a new Contractors Equipment product designed to provide the trusted and comprehensive coverage contractors need to protect their valuable equipment.
Image: Highland Insurance Solutions launches contractors equipment coverage. Photo: Courtesy of Gerd Altmann/Pixabay.
The new and modern policy form offers broad protection and the convenience of scheduled or blanket reporting coverage.
Highland Insurance Solutions, a subsidiary of Tokio Marine Kiln, is a leading managing general agent that offers a broad suite of insurance products and specialty risk management solutions tailored to the needs of today’s construction industry. Since launching a Builders Risk program in 2015, Highland has enhanced its offerings and grown the company’s annual written premium to more than $100 million.
“We’re excited to expand our capabilities with our new Contractors Equipment product,” said Rick Girden, President of Highland’s Construction Division. “Our simplified policy form is clear and easy to understand, and backed by the same underwriting expertise and unrivaled customer service that our broker partners have come to know and expect.”
Highland’s Contractors Equipment coverage features include:
Up to $10 million loss limits
$5,000 minimum premium
No co-insurance penalties
Automatic replacement cost coverage on equipment five years or newer
Blanket loss payee language built into form for fast certificate issuance
Target classes for the coverage include:
General Contractors
Street and Road, Including Batch Plants
Oil and Gas Servicing
Bridge Builders
Demolition
Open Pit and Above Ground Mining
Recycling
Water and Sewer Cut and Cover
Land Development
Pipelines
Source: Company Press Release