What is downhole tool insurance?

Downhole tool insurance covers the replacement cost of scheduled tools while they are below the rotary table in a pre-approved well. The tools are covered for loss or damage while downhole. Our main loss event occurs when the assembly becomes stuck in the wellbore.

Some other common terms used for this coverage are:

What types of tools are covered?

Below is a list of the most common types of tools that we cover. If you have a special need for a tool not listed, please contact us.

Who is eligible for coverage?

Coverage is available to anyone who owns tools or is contractually obligated to safeguard the tools while below the rotary. In most cases, the following parties are eligible:

How do we charge?

We charge on a day-rate basis for each day the covered tools are below the surface.

How are losses handled?

Losses are handled by claims adjusters specializing in the energy industry. This translates into quick turnaround times for you when it comes to proof of loss and payment. We know time is money, and unlike other contractors and insurance companies, we provide claim payments in days rather than months.

Will we be there when you need us?

We understand that drilling does not stop at 5 p.m. or on the weekends. We are available to assist you in getting coverage 24/7. Upon receiving a completed application, we can get a quote in your hands in less than 24 hours.