helps mitigate the financial loss

What to Know About Heavy Equipment Insurance

Your business likely has quite a few expensive equipment items to help manufacture, ship, distribute or operate the business. Regardless of the industry, insuring expensive equipment with helps mitigate the financial loss when the equipment doesn’t work properly or is stolen.

Typical Exposures

Protecting your equipment ahead of time can lessen the surprise when it does break down. Most standard heavy equipment policies help your business avoid prolonged setbacks when an explosion or machine malfunction happens. The coverage does not cover everything, so consider additional coverage options such as:
Sub-limited coverage for data restoration, hazardous substances, etc.

Spoilage specifically for the food industry
Rental reimbursement to keep your business running by covering rental equipment costs
Business interruption to decrease the effects of suspended operations

Equipment Rental

Not all businesses own their equipment. For those who rely on rental equipment to operate their business, your company may still be liable should any damage occur while you are operating rental equipment. Because of that liability, it is important to read the fine print on your rental agreement and protect your business with heavy equipment insurance.
The reasons for ensuring expensive equipment are many. Ultimately, you need to find the right policy for your business. A little caution upfront can save you financial loss down the road.