Specialized Truck Equipment

Nuts & Bolts: With its newly enhanced STEP SPICE policy endorsement, The Hartford Financial Services Group Inc. unveiled new additions to its multi-line program for manufacturers, distributors, installers and repairers of specialized truck equipment. The STEP program includes new property coverages that address real life risk.

Dollars: The Hartford’s Specialized Truck Equipment Program’s STEP SPICE policy endorsement adds new features such as: extra expense (incurred after, from a covered loss) with $25,000 limits; lock re-keying or replacement with a limit of $10,000; and newly acquired or constructed property-buildings with a $2 million limit. At the same time the program expands some existing policy limits, including employee dishonesty coverage (theft by employee) from its current $15,000 to $100,000; forgery/monies and securities limits from $15,000 to $25,000; and utility services limits from $15,000 to $90,000. This coverage provides built-in protection for direct physical loss or damage to the insured’s property when caused by interruption of off premises utility services. Since truck equipment companies often have custody of clients’ vehicles, the SPICE enhancements cover losses while customers’ vehicles are in the care, custody or control of the insured and while recently outfitted vehicles are held for sale or are in-transit. It also covers the insured’s demonstration vehicles at exhibitions.

Carrier: The Hartford rated “A+ XV.”

States Available: All states except, Alaska, Hawaii, Indiana and Louisiana.

Contact: Maureen Johansen, (888) 947-6915 or e-mail to: maureen.johansen@thehartford.com or Lisa Doherty, lisa.doherty@thehartford.com.