Decrease Coverage Limit

There are certain circumstances in which you have sold equipment or downsized and your current limit is now too high for your needs. While you may not always be due a premium refund, you should reach out if you need to decrease the limit on an annual policy. 

Limit Decrease Circumstances 

  • If you need to decrease your limit on a short or annual term rented equipment policy that has already started, your limit can be decreased only if you have not generated any certificates of insurance. 
  • If you have accidentally set your Rented Equipment limit too high and have already generated certificates of insurance, you will want to purchase a new and correct policy so that your old policy can be cancelled and the certificate holders notified of cancellation. 
    • In this case, go ahead and purchase your new and correct policy. Reach out to us at InsureMyEquipment@heffins.com once you have purchased your new policy so that we may cancel your previous policy. 


  • To decrease your Owned Equipment limit:
    • determine whether any of the equipment you wish to remove from your policy is scheduled (valued above $2K). 
    • remove scheduled items from your scheduled equipment list
    • The amount you remove from your scheduled equipment list will automatically be applied to your unscheduled equipment limit 
    • If you then need to decrease your unscheduled limit, send us an email at InsureMyEquipment@heffins.com and we'll help you sort it out.