Given the value of your investment, trucks and equipment must be covered accordingly as they are crucial to your business.
AGIS team found that essential business coverage with trucks and equipment were not comprehensive.
It is thus essential that businesses have at least the following cover:
Coverage against damage caused to third parties,
- A compulsory motor insurance for accidents caused by tractions (nacelle, forklift…), like any vehicle, when used/operated within the company, on the site or on a public road;
- A business liability policy for damage caused by the other equipment, i.e. those not regarded as vehicles, but regarded as plain work tools.
- for self-propelled vehicles, when not driven, stopped and used as work tools only: for example, on chocks or cylinders.
To cover the damage caused to the machinery itself:
- “Machinery breakdown” cover against glass breakage, as well as theft, fire, mechanical failure, or breakage and related equipment (e.g.: a shovel)
Useful or even essential coverage
- Cover to have a replacement machine available for the period of repair as a result of a covered damage covered under the policy.
- The “transported goods/material” cover, optional with the truck motor insurance
Coverage in case of rental of a machine or a truck
- If you regularly hire machine/equipment,
- or if you regularly and frequently rent out machinery,
You’ll want to purchase a ‘rental’ insurance cover for all year-round rentals