Mobile Equipment Insurance
Updated: 18 November 2024
What Does Mobile Equipment Insurance Mean?
Mobile equipment insurance provides coverage for mobile equipment that does not qualify as motor vehicles, such as tractors, forklifts, and excavators.
Insuranceopedia Explains Mobile Equipment Insurance
Mobile equipment typically stays on the insured’s property and is not intended for regular use on streets, highways, or other roadways.
Although mobile equipment doesn’t operate on roads like cars and trucks, it is still exposed to similar risks. For instance, a tractor could be involved in a collision, or a forklift might be stolen from the owner’s property. Mobile equipment insurance helps owners protect against these types of risks.
