What does excavator insurance cover?

Excavator insurance is an essential consideration for any business that owns, operates, or rents excavators. As this class of machinery can be hazardous, especially if not handled appropriately, the potential for damage to property or injury to people needs to be considered.

Why is excavator insurance important?

Having excavator insurance protects your business from the consequences of a claim made in relation to accidents or injuries that may arise from the use of these machines.

In addition to mitigating the financial risks and demonstrating to clients and stakeholders that your business operates responsibly, it also provides peace of mind and assures that you’re prepared to handle any potential challenges.

What is included in excavator insurance?

The coverage included in a comprehensive excavator insurance policy will vary based on the amount of cover required and the insurer. However, a good insurance provider will offer several of the following types of excavator insurance:

• Public liability insurance: Protects against third-party claims for injuries or property damage arising from your operations.
• Employers’ liability insurance: A legal necessity if you employ anyone, covering claims from employees for injuries resulting from their work.
• Professional indemnity insurance: Guards against financial losses incurred by clients due to advice or services provided by your business.
• Accidental death cover: Provides financial support in the unfortunate event of accidental death of a covered individual during work-related activities.
• Tools cover: Insures essential tools, ensuring quick replacements in case of loss or theft, preventing significant financial setbacks.
• Personal accident cover: Offers financial assistance in case of accidental injury, helping cover medical expenses or loss of income during recovery.

In what situations or locations will excavator insurance be required?

Excavator insurance is essential for construction projects across a range of settings, whether you’re working on a small-scale project or a larger development across residential, commercial, and industrial sites.

If you are renting an excavator from a company that has its own insurance policy, it’s possible you may not need to obtain your own insurance. If you are unsure whether you need to be insured, always check with your insurer first.

What types of excavators are covered?

Excavator insurance typically covers a wide range of diggers, including:

• tracked excavators 
• wheeled excavators 
• crawler excavators
• mini excavators 

How much does excavator insurance typically cost?

The cost of excavator insurance varies depending on a few factors, including:

• the level of coverage needed 
• your business setup 
• the number of employees working for you 
• the nature of the work you do 
• your claims history

Speaking with an experienced insurance provider can provide you with a tailored quote based on your specific business requirements.