Insurance

[Vinpetrol]

My insurance is up for renewal right now . I’m insured through FSB insurance brokers and have found them ok so far . I wanted to increase the amount my plant is insured for as I’ve bought 2 more machines this year . The thing is they won’t go past 25K for owned plant . They have quoted me an additional policy with payment of 1600 quid to cover the plant up to 100k claim .
This would make my liabilities and plant insurance 3.5 K ish . what’s everyone else paying ? Are you getting everything covered under one policy .
This would now give me 3 policies for my main insurance also including road risk for duck and 6 tonne dumper .

 

[doobin]

I’m with jcb for plant and it’s getting fkin expensive. All insurance seems to be.

Recently quoted £3500 per year for 300k of own plant/tools plus 5k per annum hiring in. Includes road risk on the backhoe and one compact tractor.

I can get it cheaper elsewhere but all the other policies stipulate the machines have to be in a locked compound overnight. Which as we all know doesn’t happen in this game.

If anyone has any other recommendations I’m all ears.

 

[Vinpetrol]

I’m with jcb for plant and it’s getting fkin expensive. All insurance seems to be.

Recently quoted £3500 per year for 300k of own plant/tools plus 5k per annum hiring in. Includes road risk on the backhoe and one compact tractor.

I can get it cheaper elsewhere but all the other policies stipulate the machines have to be in a locked compound overnight. Which as we all know doesn’t happen in this game.

If anyone has any other recommendations I’m all ears.

What do you do for the public and private liabilities ? Are they included ?

 

[Smiffy]

I’m with jcb for plant and it’s getting fkin expensive. All insurance seems to be.

Recently quoted £3500 per year for 300k of own plant/tools plus 5k per annum hiring in. Includes road risk on the backhoe and one compact tractor.

I can get it cheaper elsewhere but all the other policies stipulate the machines have to be in a locked compound overnight. Which as we all know doesn’t happen in this game.

If anyone has any other recommendations I’m all ears.

You would be surprised how little some insurance companies count as a locked compound.
If we leave a machine on site we have to put Harris fencing around it and photograph it. I don't know what Harris fencing will do when someone is out to nick a 13t machine.
I know it's a ball ache carting round Harris fencing.

 

[6feetdown]

I’m with jcb for plant and it’s getting fkin expensive. All insurance seems to be.

Recently quoted £3500 per year for 300k of own plant/tools plus 5k per annum hiring in. Includes road risk on the backhoe and one compact tractor.

I can get it cheaper elsewhere but all the other policies stipulate the machines have to be in a locked compound overnight. Which as we all know doesn’t happen in this game.

If anyone has any other recommendations I’m all ears.

I'm the same

 

[Brendan]

That's the problem with plant added to a public liability policy do t think many go above 25k total and a few have return to base only

Coversure or Jensten? Or however it's spelt were far cheaper than JCB for my standalone plant policy and thats all risk and can be left on site, public liability was also cheaper with them

 

[Giles]

I'm the same

Mine covers me for £50k hired in max for individual items but recently banner were like a new 8 tonner is £70k so you’ll have to take out additional then sent a 5k hour old Kubota u50-5 worth 22k I’d say lol

Think I’m covered for £50k single item own plant figure it’d be unlucky for everything to go in one night!

10m public and employers liability costs about £2200 a year broker for axa 10 years no claims

 

[JerryRtilt]

I'm the same

Been with them for years, similar figures, has been creeping up but so has everything, always find them helpful and understand the industry and happy to tailor policies to your needs.

 

[Stroppymonkey]

I’m gonna cheer you all up. I run a team of 6+apprentice+3 office staff and throw somewhere between 22-24K a year at NFU for Fleet+Employer and Public Liability.
Pretty decent to deal with and I’m insuring some 18 year olds (my daughter one of them) on the fleet and we have had a handful of claims of in last few years :-(
I just added £90K of plant on the policy to cover hired in kit (will only be 10 days) and that was less than £800 PA so £2.50 a day which seems reasonable.

 

[Brendan]

Mine covers me for £50k hired in max for individual items but recently banner were like a new 8 tonner is £70k so you’ll have to take out additional then sent a 5k hour old Kubota u50-5 worth 22k I’d say lol

Think I’m covered for £50k single item own plant figure it’d be unlucky for everything to go in one night!

10m public and employers liability costs about £2200 a year broker for axa 10 years no claims

@Giles Is that 2200 including your plant insurance?
Mine is a bit more than that for £5m public liability, employers liability and 80k of plant plus 5k tools in transit. Although my public liability wasn't the cheapest as wanted a policy that can do incidental under pinning which alot wouldn't cover.
Don't have hired in insurance as don't hire enough kit to justify the premium, as paying the 10-15% additional hire charge is far less

 

[6feetdown]

I’m gonna cheer you all up. I run a team of 6+apprentice+3 office staff and throw somewhere between 22-24K a year at NFU for Fleet+Employer and Public Liability.
Pretty decent to deal with and I’m insuring some 18 year olds (my daughter one of them) on the fleet and we have had a handful of claims of in last few years :-(
I just added £90K of plant on the policy to cover hired in kit (will only be 10 days) and that was less than £800 PA so £2.50 a day which seems reasonable.

Nfu couldn't insure me spent ages dealing with them then left me uninsured for around 3 to 4 weeks when they couldn't give me the cover I wanted for something (can't remember what)

 

[doobin]

What do you do for the public and private liabilities ? Are they included ?

No, public and employers liability is I think around 2k. Then 2.5k for the vehicle fleet policy.

 

[Brendan]

Nfu couldn't insure me spent ages dealing with them then left me uninsured for around 3 to 4 weeks when they couldn't give me the cover I wanted for something (can't remember what)

Over the years I have had numerous attempts at getting quotes from the nfu with zero success, no idea why they even bother having a branch nearby as they won't cover anything. I've seen a few on here recommending then but my experience is very poor

 

[Stroppymonkey]

Over the years I have had numerous attempts at getting quotes from the nfu with zero success, no idea why they even bother having a branch nearby as they won't cover anything. I've seen a few on here recommending then but my experience is very poor

I’ve been with them pretty much since leaving school and getting a car. Hard to beat IMHO

 

[hiluxman]

I hate insurance companies with a passion.
Road risk covered that's it, and that's only because it's a legal requirement.

If I'd money I'd use a court bond and sod insurers off even more

 

[6feetdown]

Over the years I have had numerous attempts at getting quotes from the nfu with zero success, no idea why they even bother having a branch nearby as they won't cover anything. I've seen a few on here recommending then but my experience is very poor

Yeah I was disappointed spent a lot of time going through everything then they said sorry we can't provide you with cover

 

[Vinpetrol]

I hate insurance companies with a passion.
Road risk covered that's it, and that's only because it's a legal requirement.

If I'd money I'd use a court bond and sod insurers off even more

Don’t you get asked for public and employers liability ?
If my hire co offered a premium to cover insurance id take it every time to dump it from my insurance cover

 

[hiluxman]

Don’t you get asked for public and employers liability ?
If my hire co offered a premium to cover insurance id take it every time to dump it from my insurance cover

Lots of hire places will do you an add on insurance. Chippendale call it hire gaurd. Never had an issue with hiring anything, so long as you say from start you want to add it as part of hire agreement. They just like you to take full risk so it's usually not offered without asking.

El and pl isn't relevant to hiring machinery. They just want to cover cost of the item they provide for total cost of replacement

 

[AHPP]

I hate insurance companies with a passion.
Road risk covered that's it, and that's only because it's a legal requirement.

If I'd money I'd use a court bond and sod insurers off even more

I take a similar approach. What's a court bond?

 

[Vinpetrol]

I take a similar approach. What's a court bond?

So do you take out liabilities insurances ?
Do you have people working for you ?