Insurance

[Giles]

@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

Yes , vehicles on seperate fleet policy with nfu inc tractors and 3cx for road

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

its what the police and Royal Mail do and probably army and other emergency services you lodge £10m say as a way of covering accidents etc and then it’s easier to have loads of vehicles and drivers

 

[doobin]

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.

I know that, but I'd sooner pay the extra £1k ish to not have to f**k around like that!!!

 

[doobin]

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

Coversure are brokers. They are also liars. Used them for fleet for years, then they told me Aviva were no longer doing fleet and recommended that I took a policy at 3x the previous cost. In actual fact, Avivva had terminated their agreement with them. So they lied to try to keep their commission.

 

[AHPP]

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

No and no. I'm almost always just me labour only subcontracting. The minuscule amount of whole job work I do isn't worth it.

 

[fred]

my lad 17 apprentice on the building, got him the lowest insurance group van could find berlingo diesel non turbo. NFU £3.4k.

He's just turned 18 now so at least has 1 years 15% no claims but bloody expensive.

 

[fred]

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

we use NFU for business insurance, liability, plant, contract works, accident etc. They pretty competitive and I live 20 mins from their head office so can always pop down there if any hassle!

 

[Bob]

When I had a Digger NFU would not insure me a broker found somebody .Dont forget you have got to keep your insurance policy for 40 years by law incase somebody sue you for an illness that might not come out years later like asbestosis

 

[William127]

we use NFU for business insurance, liability, plant, contract works, accident etc. They pretty competitive and I live 20 mins from their head office so can always pop down there if any hassle!

Always used to be the best thing about being with the NFU, an actual office, with parking, in town! You don't get put on hold when you're face to face, and queries are a lot easier when you can point directly to the sentence/paragraph/number on screen.
Unfortunately they've moved a fair way away now, and there are a few things about the way they do things that annoy the hell out of me- like only being able to tell you how much additional machines are up to your renewal date, so you have to be extremely careful when comparing prices. Plus they seem to struggle to understand non road legal kit, ask for a number plate every time!
Not cheap either but I do have slightly more faith(still not a lot) in them paying out than others ..

 

[DaveDCB]

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

Another one for the poor NFU experience!
They just don’t give a crap, tried multiple offices and they are all the same. And when I did get a price it was hideous!!

I’ve used JCB ever since, public liability is about £500 for 5m, plant is about 1k for 150k sum insured in. 2 road risk (all 3rd party) 15years+ no claims must help.
Don’t bother with a full time hired in policy , I just use the jcb short term online cover. But I have previously taken out a policy for the few weeks hire of big stuff and just cancelled it afterwards. They also add on demo machines for free

 

[V8Druid]

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

same as a treasury bond -- big money to have parked these days though

 

[Vinpetrol]

Inquired today about any stipulations for insured plant as nothing at all in the summary docs I got sent . All plant must be in a locked compound at night . I can’t insure that my plant will ever be in a locked compound so I’ve cancelled that part of my policy. I may spend a few quid on making them harder to start .

 

[DaveDCB]

All I know is it’s extremely hard to make a successful claim! A lot of my kit is uninsured, over the years I’ve probably saved myself a good 10/15k which is plenty in the bank to buy back the stuff which isn’t insured!

 

[Giles]

Even if stuff is insured sometimes not worth the hassle and premium rise to claim for smaller stuff laser levels nicked or tools out of van etc

 

[fred]

All I know is it’s extremely hard to make a successful claim! A lot of my kit is uninsured, over the years I’ve probably saved myself a good 10/15k which is plenty in the bank to buy back the stuff which isn’t insured!

one thing i will say about the NFU they pay out no hassles. We got robbed on site while we were there (on scaff at back didnt see anything emptied van), emailed local broker a list of invoices for kit, some going back years. They offered a figure higher than i was expecting, money in bank next day. Only surprise was it was not new for old. they knocked a % off kit depending on its age for anything more than 3 years old.

 

[DaveDCB]

How much did your premium go up next year out of interest?

 

[fred]

it actually went down by £25 quid as you get a loyalty % discount each year with NFU. Can get cheaper for some of the cover but not many do contract works cover for a decent amount which the NFU does.

 

[Vinpetrol]

How much did your premium go up next year out of interest?

1.5K but I needed cover for the new kubota and the hitachi .

 

[Vinpetrol]

All I know is it’s extremely hard to make a successful claim! A lot of my kit is uninsured, over the years I’ve probably saved myself a good 10/15k which is plenty in the bank to buy back the stuff which isn’t insured!

We had a joiners van broken into a few years ago . Parked outside the guys house . Nicked all his dewalt gear . 2.5K worth of gear . Ins company dodged out of it . I removed it from all the van policies . I’ve saved a few quid since then on small tools cover .
I’m going to get a sparky to fit good well hidden disabling switches to all my plant .

 

[doobin]

Inquired today about any stipulations for insured plant as nothing at all in the summary docs I got sent . All plant must be in a locked compound at night . I can’t insure that my plant will ever be in a locked compound so I’ve cancelled that part of my policy. I may spend a few quid on making them harder to start .

Try jcb.

 

[AHPP]

same as a treasury bond -- big money to have parked these days though

That’s a gilt to me. I get the idea from the other answer someone gave though. Google didn’t have much on it. Reserved for the big boys I imagine.