IM 7000 Contractors' Equipment Coverage

An American Association of Insurance Services (AAIS) standard form. Coverage form for contractors' equipment, either scheduled items or items on a schedule kept on file, against risks of direct physical loss, with coverage extensions, supplemental coverages, exclusions, deductibles, valuation and loss conditions.

1. 01 25 edition

   Jan 2025, compared with 04 04Latest edition

   • Adds coverage extensions, each up to $25,000 per occurrence, for your equipment while rented or leased to others, theft by fraud or deceit, and equipment while waterborne (with some bodies of water excluded).

     04 04

     Not in this edition

     01 25

     “loss or damage caused by a peril insured against to "your" "contractors' equipment" while "you" rent or lease such equipment to others”

   • Adds new supplemental coverages, including claim preparation expenses, continuing rental or lease payments, construction trailers, expediting expenses and fire department service charges.

     04 04

     Not in this edition

     01 25

     “"we" pay for "your" legal liability to continue to make rental or lease payments”

   • A schedule kept on file must now also show the model year of each item.

     04 04

     Not in this edition

     01 25

     “contain a model year of each item”

2. 04 04 edition

   Apr 2004, compared with 12 01

   • Rental reimbursement is no longer subject to the deductible.

     12 01

     Not in this edition

     04 04

     “The deductible amount indicated on the "schedule of coverages" does not apply to a loss covered under this supplemental coverage.”

   • You must pay any additional premium due from the date you buy newly purchased equipment.

     12 01

     Not in this edition

     04 04

     “"You" must pay any additional premium due from the date "you" purchase the additional”

Filed by one company only: 04 22 (Acuity, A Mutual Insurance Company, 21 filings).

1 other edition date appears in one or two filings each, often carrier-specific versions: 12 08.

• Edition in use: in the past 12 months, 10 companies filed the 01 25 edition.
• The 04 22 edition appears only in filings from Acuity, A Mutual Insurance Company (21 filings in 20 states since Mar 4, 2022), which suggests a carrier-specific version.
• IM 70 03 (Contractors' Equipment Coverage - Tool Floater) is filed alongside it most often, in 101 of the same filings (80%).

Data from admitted P&C filings with state insurance departments, submitted Oct 2021 to Sep 2026, excluding withdrawn and rejected filings. One filing can cover several affiliated companies.

• IM 70 03Contractors' Equipment Coverage - Tool Floater101 filings
• IM 70 20Replacement Cost Endorsement101 filings
• IM 70 08Schedule of Coverages - Contractors' Equipment - Tool Floater98 filings
• IM 70 13Equipment Leased or Rented to Others Endorsement98 filings
• IM 70 30Equipment Schedule - Contractors' Equipment98 filings
• IM 70 01Contractors’ Equipment Coverage -- Limited - Scheduled Equipment Form97 filings
• IM 70 02Contractors' Equipment Coverage - Blanket Equipment Form97 filings
• IM 70 05Schedule of Coverages - Contractors’ Equipment97 filings
• IM 70 17Weight of Load Exclusion97 filings
• IM 70 14Rental Reimbursement Endorsement96 filings