What protections are available through backhoe policies?
Tractor insurance policies that cover backhoes typically provide multiple coverages. Some common ones are:
- General Liability Coverage, which may cover common accidents that occur near a backhoe
- Operating Risk Coverage, which may cover accidents that directly involve a backhoe
- Damaged or Destroyed Coverage, which may cover various causes of damage to a backhoe
- Theft Coverage, which may cover theft of a backhoe from a facility or job site
- Rental Reimbursement Coverage, which may pay to rent a replacement backhoe temporarily
Can backhoe policies cover other equipment?
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.
How much do backhoe policies cost to purchase?
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:
- The location where a backhoe is stored when not being used
- The locations where a backhoe is used
- The size of a backhoe (and other equipment)
- The chosen coverages, deductibles and limits
- The business’ recent claim history
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.
Can backhoe policies be canceled when the equipment isn’t used?
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.
How can businesses in Massachusetts get backhoe insurance for their equipment?
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.