Do you own a good number of earthmoving equipment units? If you want to make sure the ideal protection is applied to these costly possessions in your construction business, I suggest you include the following types of protection in your earthmoving equipment insurance.
One common type of protection coverage you can add in your earthmoving equipment insurance policy is personal injury cover. It extends protection to any claim resulting in personal harm or bodily injury caused while using any heavy equipment units or earthmovers such as a bulldozer, skid loader, trailer truck or forklift. The person covered by this insurance could either be you, the operator of the earthmoving equipment, or a customer.
Damage to property
There will be instances where the use of the earthmoving equipment could be involved directly or indirectly to damage of property on site or loss of property due to activities carried out in the area.
Products and other completed services
If you are an independent contractor engaged in various construction projects, this type of protection coverage will benefit you most because it can cover future claims where a client expresses dissatisfaction with the project due to your non-compliance. For example, if a project you complete encounters some flaws, a comprehensive earthmoving equipment insurance policy can also extend its protection to these types of claims.
Most people engaged in construction projects must also take into consideration general liability protection, regardless if you are an independent contractor or sub-contractor who uses earthmoving equipment to carry out various construction activities. General liability coverage offers protection for legal assistance in the event your company is sued and is facing various complaints due to the use of these earthmoving units.
How can you negotiate a fair price for your earthmoving equipment insurance?
Negotiating a fair price for your earthmoving equipment insurance policy may need you to do a lot of convincing with your chosen insurer. If your goal is enjoy bigger savings for your insurance purchase, I suggest you implement the following approaches:
Get a licensed broker to act on your behalf when negotiating with your prospective insurer.
Provide a complete list of earthmoving equipment units you wish to cover with insurance so you can convince the insurer to give you a discount when buying bulk insurance products.
Appoint a highly trained operator to operate these earthmoving equipment units.
Do regular maintenance checks on your earthmoving equipment units to prolong their service.
Observe safety measures when handling these heavy duty equipment units to lessen the incidents of accidents, property damages or third party liability claims.
I do hope this topic gives you valuable information about the real need to be covered with the right protection coverage in your earthmoving equipment insurance policy. If you still can’t make a decision concerning the most suitable type of protection for your earthmoving equipment, without delay do further research about where you can get solid advice on this particular issue.