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Insurance?

Discussion in 'Business Fundamentals' started by bigmackmiller, Jan 21, 2015.

  1. bigmackmiller

    bigmackmiller Member
    Messages: 32

    Hey guys wasn't sure where to post this... I work primarily as a sub, I recently added a skid steer in addition to my truck. I carry Progressive commercial with $1,000,000 liability on the truck, but i'm not sure what I need to adequately cover the skid? Just curious how you guys have your equipment covered?
     
  2. sk187

    sk187 Senior Member
    Messages: 327

    I have a umbrella policy for my big stuff but every year I rent a few loaders and my agent adds some temp policy for them.
     
  3. NBI Lawn

    NBI Lawn PlowSite.com Addict
    Messages: 1,797

    So how are they insured? An umbrella policy covers in excess of the policy limits in which the equipment would be on. Never heard of a temporary policy. They probably just write a policy and then cancel it.

    A skid can be added to your equipment list just like a mower or plow when it isn't attached to the truck.

    Also, OP I'd check with your agent. Progressive won't write $1M on a commercial auto.
     
    Last edited: Jan 21, 2015
  4. Antlerart06

    Antlerart06 PlowSite Veteran
    Messages: 3,437

    Well My Skid started out on equipment policy But I went in check make sure its covered Since I drive it on roads and wasn't covered for that So had to change it over like my tractor,ATV Thinking its on a Marine policy
    I know its covered on the roads.
    To OP if drive down city streets you better ask if it covered when you figure out what policy you go with.
     
  5. ponyboy

    ponyboy Senior Member
    Messages: 954

    My skid is covered on my contractors insurance and I have an inland marine policy auto won't cover it
     
  6. John_DeereGreen

    John_DeereGreen PlowSite.com Addict
    Messages: 1,873

    All our equipment is on an inland marine policy with our business insurance. If it's not a licensed/plated unit, that's where it's insured for us.

    This is probably going to vary from company to company, and possibly state to state. Talking to your insurance agent is the best route...
     
  7. derekslawncare

    derekslawncare PlowSite.com Addict
    Messages: 1,003

    Inland marine for me as well.
     
  8. Ben/Insurance

    Ben/Insurance Sponsor
    Messages: 156

    Inland marine policy also known as contractors equipment floater is the way to go with the skid. We insure them this way all the time this way for our clients.
    Ben/Insurance
     
  9. bigmackmiller

    bigmackmiller Member
    Messages: 32

    ok I will check it out, thanks everyone!
     
  10. fireside

    fireside Senior Member
    Messages: 661

    In Ct your general liability policy covers property damage done by the machine on location/site only. The inland marine policy covers the machine for fire, damage and theft. If the machine tires touch the road for any reason it must now be covered on your commercial auto policy. If you don't go on the road no auto needed but if it does and you hit something you have NO coverage.