Operating a bulldozer isn't meant to be a peaceful, quiet task - this heavy equipment's purpose is to move large quantities of land, materials or rubble during construction projects - a mishap could easily mean destruction, or injury. Aside from workplace incidents, there's also the possibility of weather damaging your bulldozer, or of it being stolen.
That's why it's super important to know about the different types of bulldozer insurance available. Our independent agents are here to eliminate the hassle of searching on your own by walking you through a handpicked selection of top policies for you.
What is Bulldozer Insurance?
Simply put, bulldozer insurance protects bulldozers against third-party damage such as theft or vandalism, natural disasters such as fires and other storms, and accidental damage during a job. Coverage typically will not include general ware and tear on the equipment, however. Many policies will also cover liability claims from third parties.
Is Bulldozer Insurance Mandatory?
Usually, project contracts for construction will require bulldozer operators to have at least some level of liability coverage. So, while it's imperative to start there, it's also a really smart move to look into additional coverage options to protect your business from costly repairs/replacement of its heavy equipment. Being protected against lawsuits is a huge bonus, too.
Why Should I Get Bulldozer Insurance?
Since construction projects require the use of costly equipment that can be costly to repair no matter the cause of damage, it's a good idea to have coverage in place to absorb a big chunk of potential financial loss. Also, a project gone wrong could result in damage to third-party property or even injury, and coverage will protect your business against liability claims.
What Does Bulldozer Insurance Cover?
A bulldozer insurance policy is designed to protect your business should its bulldozer become damaged, destroyed, vandalized or stolen. Most operating risks are covered, too. Policies also typically cover liability claims made by a third party for property damage or injuries caused during a job.
Some key components of coverage can include:
- General liability: Protects against property damage or injury claims made by a third party.
- Rented/Leased Equipment: Covers costs of rented/leased equipment needed while awaiting repairs on your own. Also protects the rented/leased equipment while in use by your business.
- Inland marine: Covers equipment that cannot be permanently affixed to a specific location, including while it is in transit.
- Equipment floater: Can be added to inland marine coverage to cover equipment, including rentals, from the dangers of transporting it between jobs. Also covers theft while in transit.
- Physical damage: Covers damage to bulldozers up to their full value.
- Theft: Covers replacement of equipment that is stolen.
- Optional add-ons to coverage:
- Equipment breakdown: Covers serious disasters typically excluded by other policies, such as explosions.
- Business interruption: Covers loss of income suffered while a business's operations are suspended due to maintenance on equipment.
- Excess liability: Covers lawsuits that surpass a general liability coverage limit.
- Auto liability: Covers bulldozers while driving on public roads.
How Much Does Bulldozer Insurance Cost?
Costs of bulldozer or heavy equipment policy premiums depends on the amount of equipment owned or rented/leased by your business annually, as well as the value of your equipment. Location also matters, as high property values in N.Y.C. make for high-cost lawsuits for contractors. So, a smaller business with cheaper equipment out in the Midwest will pay significantly less than a huge business using top-of-the-line equipment in a metropolitan area.
What's So Great About an Independent Agent?
Insurance policies can be complicated and hard to understand, and sifting through available coverage options isn't high on anyone's list of fun things to do in their spare time. An independent agent's role is to simplify the process.
Independent agents are there to make sure you get the absolute best deal, and the one that meets your unique needs. They shop and compare insurance quotes for you, and they'll break down all the jargon so that you understand exactly what you're getting.
Finding/Comparing Bulldozer Insurance Quotes
Our supremely wise agents will review your needs and help you evaluate which type of bulldozer insurance makes the most sense for your business. They'll also compare policies and quotes from multiple insurance companies to make sure you have the best protection out there. They'll hook you up - in a comprehensive and affordable way.