EXCAVATION INSURANCE GROUP
Do I Need Separate Coverage for Each Piece of Equipment?
Excavation Insurance Group explains the difference between scheduled and blanket equipment coverage, and why every major machine still needs to be listed.
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Quick answer: Excavation Insurance Group on this: Not separate policies, but each major piece of equipment should be individually scheduled, meaning listed with its own description and value, on one equipment floater. Smaller tools can usually run under a blanket limit instead. The distinction between “scheduled individually” and “one policy” is where the confusion usually starts.
SCHEDULED VS. BLANKET COVERAGE
Major machines, excavators, dozers, skid steers, compactors, are typically scheduled individually, each with its own value and limit, on a single equipment floater that covers your whole fleet. This matters because a claim settles against the specific value listed for the specific machine involved, not an average across everything you own. Smaller tools and equipment are more commonly handled under a blanket limit with a per-item cap, which is simpler to manage for items that get bought, lost, and replaced often.
WHY THE DISTINCTION MATTERS AT CLAIM TIME
If a machine isn’t on the schedule, individually or by falling clearly under a blanket clause with an adequate limit, there’s no basis for a claim to settle against when it’s lost or damaged. One policy covering the whole fleet is efficient and normal, but every major piece of equipment on that policy needs to actually be listed, with a value that reflects reality, not left off because it seemed obvious it would be covered.
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Related: How Do I Schedule New Equipment Onto My Policy? | Is Equipment Covered in Transit Between Job Sites?
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