9 insurersFigures checked 2026-10-26
Tools & equipment insurance cost, and BOP vs general liability
Tools and equipment cover (inland marine) pays when gear is stolen or damaged away from your shop. A business owner’s policy (BOP) bundles general liability with property cover. Here is what insurers publish for each.
We are not an insurance agent. Prices are what each company publishes; your quote will differ. Premiums depend on your trade, state, payroll, limits, deductible, vehicles and claims history. We never produce quotes.
Affiliate disclosure: Some insurers run affiliate programs. Every insurer link on this page is a plain link to the company’s own site today; if we join a program, those links will be marked sponsored. It never changes the figures or the order we show. Details
Tools & equipment: published figures
Insurers listed A–Z, not ranked.
| Insurer | Published figure |
|---|---|
| InsureonOnline agency (compares insurers) | Median$42/moContractors (inland marine) · $502/yr as published · Source |
| Simply BusinessOnline agency (compares insurers) | Median$37/moGeneral contractors, Jul-Dec 2025 · $444/yr as published · Source |
GL with tools & equipment as a bundle. Insurers listed A–Z, not ranked.
| Insurer | Published figure |
|---|---|
| ERGO NEXTDirect insurer (sells online) | From$38/moSource |
Simply Business 10th percentile. Insurers listed A–Z, not ranked.
| Insurer | Published figure |
|---|---|
| Simply BusinessOnline agency (compares insurers) | From · 10th pct$20.83/moSource |
From · 10th pct Simply Business “from” figures are the 10th percentile of the policies it sold, not a floor: one in ten customers paid less, nine in ten paid more.
Quote only Thimble: no published price on the pages we checked.
BOP vs general liability
GL covers injury and damage you cause to others. A BOP adds commercial property (your tools, stock and premises) to that GL, usually at a lower price than buying both separately.
Same source, same population (Insureon contractor customers): general liability Median$83/moLimits typical $1M/$2M · Deductible $250 · $990/yr as published · Source versus a BOP Median$115/mo$1,374/yr as published · Source.
Published BOP figures
Insurers listed A–Z, not ranked.
| Insurer | Published figure |
|---|---|
| InsureonOnline agency (compares insurers) | Median$115/moContractors · $1,374/yr as published · Source |
| The HartfordInsurer | Average$1,687/yrCustomers; page last updated April 11, 2025 · Source |
Hiscox BOP sample quotes (consultants)
Hiscox publishes these illustrative BOP samples for consultants, not trades. Each sample is one business in one state with the limits and deductible shown. Yours will differ.
| Insurer | Business | State | Limits | Deductible | Sample quote | Kind / date |
|---|---|---|---|---|---|---|
| HiscoxBusiness owner’s policy (BOP) | IT consultant | CA | $1M/$2M | $500 | Sample quote$41.67/mo$500/yr | Illustrative (as published; page checked 2026-10-26)Source |
| HiscoxBusiness owner’s policy (BOP) | Business consultant | MA | $1M/$2M | $1,000 | Sample quote$63.50/mo$762/yr | Illustrative (as published; page checked 2026-10-26)Source |
More business insurance costs
- Business insurance hub
- General liability cost by trade
- Workers’ comp cost
- Commercial auto cost
- Handyman insurance cost
- Cleaning business insurance cost
- Landscaping insurance cost
- NEXT vs Hiscox
- Hiscox vs biBERK (+ NEXT)
- NEXT vs Thimble vs Simply Business
All figures from each company’s own pages, checked 2026-10-26. We are not an insurance agent and do not sell or recommend coverage; check what your state and your clients require. How we check prices