Summertime might be boom time for contractors, but it’s also prime time for theft. With tools and equipment left on job sites overnight and subcontractors coming and going, the chances of something going missing (or someone getting hurt) are higher than ever.
Jobsite Theft is Rising and It’s Costing Contractors Big
According to recent data, jobsite theft in the U.S. now accounts for nearly $1 billion in losses annually. Thieves target easily resold items: power tools, copper wiring, compressors, even trailers. And most General Liability policies won’t cover theft of your gear unless you’ve got the right Inland Marine or Equipment Floater coverage in place.
Think your tools are protected in your truck? Not if your policy doesn’t include theft from an unattended vehicle.
What Happens When Someone Gets Hurt on Site?
Many contractors assume their subs are properly insured. But if a subcontractor’s helper slips, trips, or falls and they don’t carry their own coverage, your policy could be on the hook. Worse yet, courts may view you as the “controlling employer” depending on the contract language, meaning your CGL and Workers Comp exposure could spike without warning.
And don’t forget: residential projects, vacant remodels, and storm restoration jobs each carry their own set of liability landmines.
3 Questions to Ask Yourself Right Now
1. Do I have blanket or scheduled equipment coverage for all tools I leave on-site or while in transit?
2. Are my subcontractors required to carry their own valid GL and Workers Comp insurance with certificates to prove it?
3. Does my policy limit or exclude theft from unattended vehicles, trailers, or temporary storage?
Celtic Shield Can Help
At Celtic Shield Insurance Group, we specialize in helping contractors in the Greater Philly area identify and fix coverage gaps before they become costly headaches. From tool floaters to additional insured wording to subcontractor agreements, we’ve seen where claims go wrong and we know how to get it right.
📞 Don’t wait until your equipment disappears or your site makes the news. Let’s review your coverage now, while things are still running smoothly.
