Backhoes are specialized equipment and correspondingly require specialized insurance. Backhoe insurance is one of the easiest and most effective ways for Massachusetts businesses to insure this equipment.
Backhoe insurance provides specialized commercial coverages for backhoes. Policies typically provide protection against both damage to the equipment, and accidents involving it.
Any Massachusetts business that operates a backhoe may need this type of tractor insurance. A policy may be appropriate regardless of whether a backhoe is owned, leased or rented. Some specific examples of businesses that commonly purchase one of these policies include:
Of course, a tractor insurance policy alone won’t satisfy many of these business insurance needs. For businesses that have other insurance needs, tractor insurance can be included as part of a larger policy. General contractor, construction, demolition and landscape insurance policies all can usually include coverage for backhoe equipment.
Tractor insurance policies that cover backhoes typically provide multiple coverages. Some common ones are:
Some backhoe policies that terms and conditions that allow them to protect other equipment too. Certain policies might be able to cover post-hole diggers, hydraulic hammers, pavers, trailers, road rollers, and similarly sized equipment. Tractor policies may also cover other tractor-type equipment. Exactly what any particular policy can cover depends on the policy’s particular terms, however.
Businesses that need a policy for both a backhoe and other equipment should work closely with an insurance agent who specializes in these policies. A knowledgeable agent will be able to check exactly what equipment a given policy can extend coverage to.
The premiums charged for backhoe policies are based on a multitude of factors. The following are just a few of the many details that can impact the cost:
An independent insurance agent can work with businesses to compare policies from different insurance companies. This tends to be the easiest way to find out exactly how much insuring a backhoe will cost.
Businesses are sometimes tempted to cancel a backhoe policy temporarily when the equipment isn’t being used, such as during a slow time of year. Although this can result in some small premium savings, it’s generally not advised.
Canceling a policy outright usually leaves a backhoe without any protection whatsoever. Should the equipment be damaged while in storage, there’s usually no coverage for the damage sustained.
Rather than canceling a policy altogether, businesses may instead explore curtailing coverages temporarily. An experienced insurance agent can help adjust coverages, so there’s still protection against damage but other unneeded coverages aren’t being paid for. The agent can then help reinstate all appropriate coverages when the backhoe is used next.
If you need help insuring a backhoe that’s in Massachusetts, contact the independent insurance agents at Paul T. Murphy Insurance. Our agents will work closely with you to ensure that your backhoe and all other equipment are properly protected. We can assist with backhoe insurance and many other types of commercial policies.
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This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.
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