Contractor's Equipment Insurance

The state of Florida, through the Department of Management Services, is conducting an Invitation to Bid (ITB) for Contractor's Equipment Insurance. The procurement seeks a broker to provide insurance coverage for owned and leased contractor's equipment, including mobile command units, for a policy term of one year with up to four additional one-year renewal periods. The total insured value is approximately $12.5 million across various state agencies and universities. The successful bidder will be responsible for policy administration duties such as claims settlement, endorsements, and premium invoicing. Coverage requirements include replacement cost valuation, deductible options, and conformance to applicable Florida statutes and regulations. Bids must be submitted by May 28, 2024, and the contract will be awarded to the responsive and responsible bidder with the lowest calculated premium.

The ITB does not specify any set-aside designations or restrictions on the types of organizations that can respond. There is no incumbent contractor identified, and the contract will be funded through the state's general operating budget. The average annual spend over the past two contract years was $80,654, but this is provided for informational purposes only and does not represent a minimum or guaranteed spend.