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Heavy equipment insurance?

Discussion in 'Heavy Equipment' started by ctsvnino, Jan 30, 2011.

  1. ctsvnino

    ctsvnino Junior Member
    from jersey
    Messages: 14

    Do you guys know any agency that has heavy equipment ins?
     
  2. tuney443

    tuney443 PlowSite.com Addict
    Messages: 1,847

    I'm an excavating contractor.Are you talking just insurance for the iron itself,contractor's insurance covering your operation,or both?
     
  3. ctsvnino

    ctsvnino Junior Member
    from jersey
    Messages: 14

    Ugly coverage on the business but want own coverage for my skid steer
     
  4. DGODGR

    DGODGR Senior Member
    from s/w co
    Messages: 639

    I've never tried to obtain ins. coverage, for a piece of equipment, as an individual (I think that's what you are asking about). My inland marine has always been attached to my business. If you are only using it at your place of residence than you may be able to attach it to your homeowners policy. If it will be stand alone insurance I would think that you would pay more for it than if it was attached to a GL policy. If you are using it to make money than any ins. agent, worth his salt, will recommend that you get GL coverage too. If you are leasing it back to your company, but retaining ownership, the liability issues become clouded and may vary from state to state. I would talk to your insurance agent. If you don't have one I would recommend that you go see one that specializes in commercial insurance. If it's for your home you may want to run it by an agent who does not service your HO policy. If the agent deffers the querry to the underwritter they may write you a nasty letter. In some states heavy equipment can be subject to "attractive nuisance" laws. If it's on your property (even if fenced) it can expose you, and your insurance company, to greater risk. Some companies are not willing to take that risk. I store my HE at my home (a home based business on a 20 acre ranch in a rural area) and I had to get my HO policy from the same company as I have my GL with.
     
  5. ctsvnino

    ctsvnino Junior Member
    from jersey
    Messages: 14

    no I contacted someone thanks for the info