Which type of policy is designed to cover mobile equipment during transit or on premises?

An equipment floater policy is specifically designed to provide coverage for mobile equipment, both while it is in transit and when it is on premises. This type of policy is particularly important for contractors and businesses that rely on movable machinery, tools, and equipment as part of their operations.

The key feature of an equipment floater policy is its flexibility in covering equipment that isn't tied to a specific location, making it suitable for items that are frequently moved or transported from job site to job site. This coverage protects against risks such as theft, loss, or damage that could occur during transit or while the equipment is being stored or used at various locations.

In contrast, general liability insurance primarily covers third-party bodily injury or property damage claims and does not offer protection for the equipment itself. Builder's Risk insurance is tailored for buildings under construction and typically does not extend to mobile equipment. Standard property insurance is generally focused on fixed assets located at specific properties, and it may not cover equipment that is movable or used off-site. Therefore, the equipment floater policy is the most appropriate choice for the situation described.