What type of policy typically covers equipment located on-site or in transit?

An equipment floater policy is specifically designed to cover equipment that is either on-site at a business location or in transit. This type of insurance provides flexibility and protection for movable property, such as machinery and specialized tools, which may be subject to loss or damage while being transported from one place to another or used at different job sites. This is crucial for businesses that rely on such equipment to operate effectively, ensuring that they are financially protected against unexpected incidents that may occur during transportation or use.

In contrast, a commercial general liability policy primarily covers third-party claims related to bodily injury or property damage, rather than protecting property itself. A property insurance policy does cover physical property but typically focuses on items that are stationary and located at a specific location, and it doesn’t offer the same scope of coverage for mobile equipment. Workers' compensation insurance, on the other hand, is focused entirely on providing coverage for employees who are injured on the job, without addressing coverage for equipment. Therefore, the equipment floater policy is the most appropriate choice for scenarios involving equipment on-site or in transit.