IM 7004 Contractors' Equipment Coverage - Leased Or Rented Equipment Form

An American Association of Insurance Services (AAIS) standard form. Coverage form that insures contractors' equipment and tools you lease or rent from others against direct physical loss from a peril insured against, with separate per item and total limits, continuing rental payments and pollutant cleanup coverage, and a catastrophe limit.

1. 01 25 edition

   Jan 2025, compared with 04 04Latest edition

   • Leased or rented tools are now covered along with contractors' equipment, each with its own any one item and all items limits.

     04 04

     Not in this edition

     01 25

     “Limit indicated on the "schedule of coverages".”

   • A new supplemental coverage pays up to $1,000 for rental or lease payments you must keep making while lost or damaged equipment or tools are repaired or replaced, after a 72 hour waiting period.

     04 04

     Not in this edition

     01 25

     “until after the first 72 hours following the”

   • A percentage deductible option is added, applied to the value of the equipment involved, subject to minimum and maximum amounts.

     04 04

     Not in this edition

     01 25

     “percentage deductible is indicated on the”

   • A catastrophe limit now caps the most paid in any one occurrence, however many items are involved.

     04 04

     Not in this edition

     01 25

     “Catastrophe Limit indicated on the "schedule”

• Edition in use: in the past 12 months, 9 companies filed the 01 25 edition.
• IM 70 00 (Contractors' Equipment Coverage -- Broad - Scheduled Equipment Form) is filed alongside it most often, in 80 of the same filings (98%).

Data from admitted P&C filings with state insurance departments, submitted Oct 2021 to Sep 2026, excluding withdrawn and rejected filings.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 00Contractors' Equipment Coverage -- Broad - Scheduled Equipment Form80 filings
• IM 70 01Contractors’ Equipment Coverage -- Limited - Scheduled Equipment Form80 filings
• IM 70 02Contractors' Equipment Coverage - Blanket Equipment Form80 filings
• IM 70 03Contractors' Equipment Coverage - Tool Floater80 filings
• IM 70 13Equipment Leased or Rented to Others Endorsement80 filings
• IM 70 16Boom Restriction Endorsement80 filings
• IM 70 20Replacement Cost Endorsement80 filings
• IM 70 17Weight of Load Exclusion79 filings
• IM 70 27Contractors' Equipment - Income Coverage79 filings
• IM 70 08Schedule of Coverages - Contractors' Equipment - Tool Floater78 filings