Construction Equipment Insurance: Why You Need it

Farm equipment and construction equipment insurance

The most difficult part of the work on a building yard is executed by means of machineries and equipment. From excavations, transporting materials, demolition and removal of debris from the building yard, to ensure electrical energy – everything is insured by machines. But what happens when the equipment and machinery suffer accidents, resulting material damages? Construction equipment insurance is the most effective method to protect your investment.

The goods that can be insured are motor vehicles/vehicles, trucks and special equipment on condition that they are terrestrial, for example construction equipment (bulldozers, excavators, front loaders, compactors, cranes, concrete pumps, etc.), those used in agriculture (tractors, croppers, Seders, balers, plows, harrows, discs and other related equipment), or any other special equipment (drilling machines, utility cars). Goods are insured for damage during work and during the time in which they are stored/ parked in the working places or in garages. Compensations are given for property damage produced directly by the deterioration or destruction of the insured properties, caused by collisions (collisions, knockings or impingements) with other movable or immovable objects.

There are no compensations for:

• Goods that are used for leisure activities (ATVs, scooters, snowmobiles, etc.);

• Damage caused, directly or indirectly, by the action of explosive devices or firearms;

• Damage to third parties (third party liability);

• Injury caused by, or aggravated, directly or indirectly by or as a result of a fall (falling into a gulch, falling into water during transhipment, falling because of a broken bridge, etc.) or twists;

• Damage caused by, or aggravated, directly or indirectly by or as a result of theft or robbery;

• Displacements to and from the building yards/work centres;

• Injury due to damage or failure of parts or non-approved subassemblies fitted to the insured good;

• Damage derived from mechanical or electrical failure