Contractor’s Equipment Floater – Deductible Flexibility

As we continue to evolve our commercial product offering, we are introducing added flexibility for Contractor’s Equipment Floater (CEF) coverage, providing brokers with more options when structuring deductibles for larger or more complex equipment schedules.
Effective March 9, 2026, the CEF deductible can be applied separately to unscheduled equipment as well as to each individual scheduled item, with the ability to apply different deductible options per scheduled contractor’s equipment item.
This change applies to New Business and Renewals where Contractor’s Equipment Floater coverage exists. In addition, for any policy action taken on or after March 9, 2026, including endorsements or other policy changes, the schedule will be visible on the declaration where the CEF coverage exists. There are no changes to contract wording, pricing, or claims handling.
What this means:

For New Business, Renewals, and Policy Changes effective March 9, 2026, or later, brokers can now discuss and apply deductible options on a per scheduled item basis*.
This provides an additional tool to better align deductibles with risk exposure, such as applying higher deductibles to higher value equipment where appropriate.
For existing policies where CEF coverage already exists and no changes are made, the existing deductible continues to apply across the entire schedule. There is no impact to brokers or customers.

*Subject to the terms and conditions of the policy wording (in the event of a loss, the approach is unchanged — if multiple items are stolen, only one deductible will apply, being the highest).
If you have questions, please contact your Business Development Manager.