Plant Machinery Insurance is an important factor for machinery owners and hire companies alike. Here at Plant Planet we always try to get the best quality machinery for the job when looking to buy or rent plant machinery. If you’re anything like us, you’ll find yourself trawling through brochures, swimming in specs, and focussing on force. However, it’s important to remember that other aspects of the purchasing process will affect your choice of machine. Questions such as ‘what maintenance is involved?’ and ‘Do I need to put any precautions in place for this machine to be run safely?’ must come into play.
One of the biggest considerations when buying or renting plant machinery is what insurance measures are in place. A first time buyer/hirer may find Plant machinery insurance confusing, so we’ve put together a guide to ensuring your machine is properly insured. Answering your questions such as: ‘what insurance will I need to cover my machines?’ and ‘how does insurance help me and my company?’.
Risks and Worries
The truth of it is that contractors and owners of heavy equipment and plant are in a position of facing unique risks on the job. You’ll undoubtedly be spending time on client’s sites with expensive equipment that you either own, or have hired for the specific job. The risk of these being lost or stolen are higher than that of equipment used in other lines of work; therefore, the need for the correct insurance is of paramount importance. Monetary issues arise, not only from the cost of repairing or replacing equipment, but from the costs of delays caused to work undertaken.
An insurer will look at a number of factors when calculating Plant Machinery insurance:
To see more information about the importance of Plant Machinery Insurance read more here.
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