Inland Marine / Equipment Floater Insurance for equipment rental companies
The coverage that defines a rental yard's risk. An equipment floater follows your owned rental equipment to customer job sites, in transit on your trucks, and anywhere else it operates — covering theft, physical damage, vandalism, and mysterious disappearance. Standard commercial property covers only your yard; this is what insures the fleet once it leaves the gate.
What it covers
- Owned rental equipment at customer job sites, in transit, and in storage
- Theft and mysterious disappearance of scheduled equipment
- Physical damage, collision, fire, and vandalism
- Scheduled high-value units at agreed value — no depreciation dispute
- Blanket coverage for the working fleet with newly acquired equipment auto-covered
- Loading, unloading, and transit exposure
Who it's for
- Any equipment rental company whose fleet leaves the yard (essentially all of them)
- Operations with high-value units — excavators, boom lifts, loaders — that must be scheduled individually
- Rental yards whose standard commercial property stops at the gate
- Companies delivering equipment across a wide radius or state lines
Why CCA
- Equipment floater structured with rented-to-others language from day one
- High-value units scheduled at agreed value, not actual cash value
- Specialty inland marine markets for rental fleets with prior theft or damage loss runs
Common questions about inland marine / equipment floater insurance
Inland marine — written as an equipment floater — is the policy that follows your rental equipment wherever it goes: to customer job sites, in transit on your trucks, and in storage. It covers theft, physical damage, vandalism, and mysterious disappearance, none of which standard commercial property (which only covers property at your fixed yard) will pay for.
Scheduled coverage lists each unit individually with serial number and insured value — best for high-value, stable fleets. Blanket coverage covers a category up to a total limit and automatically picks up newly acquired equipment — best for high-turnover yards. Many rental companies run a hybrid: blanket for the working fleet, scheduled endorsements on units over $75,000–$100,000.
Yes. Theft from a customer's site is covered under the floater, provided it includes theft and mysterious disappearance (any properly structured rental policy should). Your insurer pays the scheduled value less your deductible after a police report, and may subrogate against the customer if their site-security obligations under your rental agreement weren't met.
Transit coverage is typically included within the floater, but terms vary by form. We confirm whether transit applies when equipment moves on your trucks, a customer's vehicle, or a third-party carrier — and whether loading and unloading are covered — so there's no gap between the yard and the job site.
Inland marine for rental fleets is generally priced at roughly 1.0%–3.0% of insured fleet value per year, reflecting the higher theft and damage frequency of multi-operator, high-utilization use. High-value scheduled units, large delivery radius, and poor loss history push the rate up; good housekeeping and security documentation bring it down.
Yes, with a leased or rented-equipment endorsement sized to the maximum value you'd hold at once. We confirm whether the equipment owner's policy carries a waiver of subrogation so their carrier can't pursue your insurer after paying a loss on the rented-in unit.
Cost is driven by your fleet value (the largest factor), annual rental revenue, employee count and payroll, the types of equipment you rent, delivery radius, and loss history. We quote your actual operation in about 15 minutes — never a generic estimate. A small specialty yard may pay under $15,000 a year while a large multi-branch operation with a heavy delivery fleet runs considerably more.
Yes. Contractors Choice Agency is licensed in all 50 states and writes programs for equipment rental companies nationwide — Phoenix, Dallas-Fort Worth, Denver, Atlanta, Nashville, Tampa, Salt Lake City, and everywhere rental yards operate.
Typically 15 minutes on a call. For larger fleets or high-value programs we may need a day or two to involve the right specialty markets, but we move fast and set expectations up front. Certificates of insurance are issued same-day once the program is bound.
Often yes. We have admitted and excess-and-surplus (E&S) markets for rental companies declined over a high theft loss run, a prior total-loss claim, OSHA citations, or new-operation status. Bring us your situation and we'll find a path.
Usually yes. Bundling inland marine, general liability, commercial auto, equipment breakdown, and umbrella into one coordinated program closes gaps between policies, is almost always cheaper than separate policies from separate carriers, and is far easier to manage at claim time.
A.M. Best ratings reflect a carrier's financial strength and ability to pay claims. We place coverage with A-rated (and A.M. Best A+ where possible) carriers so the coverage is there when a major theft, a serious accident, or an injury claim hits your rental operation.
Fleet list with makes, models, years, serial numbers, and values; number of rental units; annual rental revenue; employee count and payroll by role; delivery radius and whether you deliver or require pickup; equipment categories rented; current carrier and loss history. The more detail, the more accurate the quote.
Yes. Party and event rental operations — tents, tables, bounce houses, staging, lighting — carry similar inland marine and rented-to-others exposures plus distinct product/setup liability. We tailor the program to the equipment category you rent, whether that's heavy construction or event rentals.
We set up a blanket additional insured endorsement so you can issue certificates quickly to customers who require it. For high-value rentals we recommend requiring the customer's COI naming you as additional insured and loss payee before release. Your agent can issue same-day ACORD 25 certificates once the endorsement is in place.
Yes — hand tools, power tools, generators, compressors, and small equipment are scheduled under the inland marine floater alongside the heavy iron. Smaller items are the most frequently stolen category, so we make sure the schedule and limits reflect the full fleet, not just the big-ticket units.
Yes. If you operate from multiple locations, we build one coordinated program covering every branch, yard, and delivery route with no gaps between sites — and with consistent limits and additional-insured terms across the whole operation.
Yes. Delivery trucks, flatbeds, lowboys, and trailers used to transport equipment are covered under commercial auto, while the rental equipment itself rides on the inland marine floater. We coordinate both so there's no gap when equipment is on your truck and no double-payment question at claim time.
Most rental yards carry a deductible between $1,000 and $5,000 on the equipment floater, balancing premium savings against out-of-pocket risk. Higher deductibles lower premium but mean more self-insured loss per claim; we model the break-even so you pick a deductible that fits your cash flow and loss frequency.
Yes. When you supplement your owned fleet with rented-in or leased equipment for peak season or specialty jobs, we add a leased/rented equipment endorsement sized to the maximum value you expect to hold at once, so that temporary capacity is covered too.
Pair it with related coverage
Ready to protect your rental fleet?
Get a 15-minute quote from specialists who understand equipment rental — inland marine floaters, rented-to-others coverage, equipment breakdown, and the liability limits your commercial customers require.