Whether you’re in the market to purchase a digger, already own one or are simply researching, the purchase of a digger is likely to be a significant investment for you or your business, therefore protecting your investment with digger insurance is vital for peace of mind.
In this guide we will cover everything there is to know about insuring your digger from types of insurance coverage available to digger owners, factors that may affect your insurance premiums as well as tips for selecting the best insurance coverage.
What Is Digger Insurance and Why Do You Need It?
Digger Insurance provides peace of mind for digger owners and renters alike, the right digger insurance provides protection against any loss or damage to a digger. Whether for business or personal use, having the right type of cover is vital and if you intend to drive on public roads, it is a legal requirement to have road risks cover.
Accidents can easily happen, and the cost of replacing or repairing a digger could place a significant financial burden on yourself or your business. An experienced Insurance provider for diggers can offer a range of coverage options to help protect you financially in case of an accident, as well as cover you for theft and any other unforeseen circumstance or event.
Types Of Insurance For Digger Owners
As mentioned, a typical digger insurance policy protects your investment against theft and damage. However, there are several options you can consider for your coverage policy. We’ve listed some of the common types of insurance policies that a digger owner should be aware of.
Public Liability Insurance
If you’re operating your equipment as part of a business or on your own and a member of the public injures themselves or their property is damaged whilst you are working, public liability insurance is there to protect you against any claim that may arise.
Employers Liability Insurance
Employers liability insurance is a legal requirement for businesses employing staff. As diggers are a piece of heavy machinery, there is potential for an employee to injure themselves, whilst operating with or around the equipment. Employers liability insurance is in place to protect you as the employer.
Cover Whilst In Transit
Whilst moving the machinery around, for example moving between sites, there is a potential for your equipment to become damaged whilst on route. Cover whilst in transit protects your equipment in this event.
Malicious Damage
Should anyone deliberately damage your digger and cause a significant cost in repairs to you or your business, malicious damage insurance is there to cover the costs of any such repairs.
Tips For Selecting The Right Coverage For Your Digger
We have mentioned the types of insurance available to digger owners, but how do you go about selecting the right coverage that you need? Below are 5 of our top tips to think about, so when you speak with an insurance broker you’ll already have an idea of what you should be looking for.
Tip 1: Assess the risk associated with your digger: we mentioned a range of options available to you in the previous section, however these likely won’t all be relatable to you. Sit down and pinpoint exactly what risks you are personally at risk of when operating your digger. This way you will know exactly which risks are relatable to your business and exactly what you need protection for.
Tip 2: Shop around for the right coverage: we highly recommend shopping around for the right coverage or that you speak with a specialist digger insurance broker, who can find you the best rates and tailored coverage.
Tip 3: Choose the right coverage limits: similar to tip 1, spend a bit of time working out the costs associated with the risks you mapped out. Questions such as the value of the digger, the value of buildings on site etc., should all be taken into account. When you have a firm understanding of the potential costs involved, you will have no trouble on the limits you need, ensuring that you don’t overpay or are left facing a massive financial hit.
How Much Does Digger Insurance Cost
There is no one-size-fits-all price for digger insurance. The cost of your insurance coverage will depend on a range of factors, including the number of diggers you want to insure, the value of the equipment, and the type of work being undertaken.
There are also a variety of different options you can choose to have on your insurance policy, as covered above. This will likely depend on the jobs you are undertaking as well as where your machinery is kept when not in use.
Used Diggers For Sale At International Plant Sales
IPS are specialists in selling used plant equipment. When you purchase equipment from us, you can rest easy in the knowledge that you’re buying from a reputable company. All of our machinery comes to us directly from either H. E. SERVICES (Plant Hire) Ltd or Diggerland theme parks. Both of which purchase their machines from new. Meaning our machines all have only one previous owner. You can view all of our machinery currently for sale here.
When you buy used machinery from IPS, you’ll have the added benefits of:
- We can arrange worldwide shipping
- Machinery is fully refurbished by The Finishing Touch team
- Warranty included on all machinery sales
If you have any questions, please don’t hesitate to contact the IPS team today.
Guest blog post written by Jade Smith.
Information correct as of 30/04/23
