Equipment Pro advances the division’s core contractor’s equipment product, providing additional coverage for property, customisable limits and deductibles. Credit: Jonathan Weiss/Shutterstock.

Great American Insurance Group’s property & inland marine division has introduced Equipment Pro, an enhanced contractor’s equipment insurance product tailored for industry professionals.  

Through its coverage options, the new offering aims to address the diverse risks faced by contractors. 

Equipment Pro advances the division’s core contractor’s equipment product, with the additional scope covering property, customisable limits and deductibles designed to suit different exposure needs.  

Basic coverage includes protection against various perils such as fire, water damage, earth movement, wind and theft. 

The product also introduces a rating approach, rewarding insureds with premium credits for their years in business and positive loss history.  

Equipment Pro encompasses 18 additional coverages that tackle “overlooked exposures”, which are not typically covered by competing products unless explicitly added. 

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Moreover, the insurance solution includes seven optional coverages and multiple endorsements, providing a product that caters to the multiple operations of contractors.  

In the event of accidents, an in-house team of inland marine experts is responsible for managing claims. 

Great American property & inland marine divisional vice-president Dave Lancaster said: “We understand the critical role that equipment plays in the daily operations of contractors. Our new product is designed to help contractors rest easy, knowing that their equipment is protected and that claims will be handled in a timely and efficient manner by our dedicated team.” 

This follows the recent promotion of Robert D Martin to president and chief operating officer at Mid-Continent Group, a subsidiary of Great American Insurance Group.