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.