Lexington Insurance, a Chartis company, has entered into agreement with National Equipment Register (NER) to fight against equipment theft.
Under this agreement, Lexington's contractor equipment policyholders can protect their construction equipment from theft by registering their machines on NER's HELPtech database.
Through this relationship, NER will provide a 20% discount to Lexington's insureds when they register their equipment on NER's HELPtech database.
According to the Lexington, for policyholders who elect the waiver of theft deductible and theft reward endorsement, the company will waive theft deductibles up to $10,000 per occurrence if an insured's equipment is registered prior to a theft and not recovered within 30 days of it being reported.
Lexington Inland Marine Product Line manager Edward Fox said by registering equipment with HELPtech, Lexington insureds are assisting with the protection of their own investments.
NER marketing and sales director Stacy Kaufman said that the NER's HELPtech registration is an inexpensive - but very important - layer of equipment protection.