Road Compactor Insurance

Are you in the business of constructing roads and foundations? As a construction builder, you are exposed to all types of risks undertaking construction activities and these could lead to property damage or losses. This is why you need to know more about the builders’ road compactor insurance policy. Below are some questions that you need to consider before accepting any construction project.

Question #1 – Who will be responsible?

One of the crucial questions to ask prior to a construction project is, “Who will be responsible for the purchase of the insurance?” For example, if you are an independent contractor who owns a road compactor, it’s your responsibility to ensure that any equipment used for a construction project is insured with the right protection coverage. In fact, there are some states that may require proof of insurance before you can be allowed to start a project. So, be sure you are fully aware of your responsibilities when it comes to construction projects you handle.

Question #2 – Will you hire a broker or buy direct from an insurer?

Among the concerns you have as a professional builder when it comes to insurance matters is whether you hire a broker to look for the best road compactor insurance policy or you just buy direct from an insurer. First assess your present situation, if you are clueless about the existing insurance products in the marketplace, then hiring a licensed broker is sure to lead you to the right insurance company specialising in heavy equipment like the road compactor. Keep in mind if you have no idea what a builders road compactor policy entails, if you go straight to an insurance company you might buy a mismatched insurance policy.

Question #3 – What will my road compactor insurance cover?

Another compelling question that you need to pay attention to before buying road compactor insurance is the exact protection coverage. I suggest you list the different risks your road compactor is prone to while in operation or at the storage area, such as:

  • Potential theft issues

  • Vandalism

  • Property damage

  • Personal injury or third party

  • General liability

  • Other incidents that happen without any warning (fire or flooding)

  • Non-operation due to breakdown

Question #4 – What can’t be covered?

Of course, expect certain limits to what can be covered as part of your road compactor insurance implemented by the insurer in the following events:

  • Claims for damage can’t be covered if due to an equipment manufacturer’s fault in workmanship or use of inferior materials.

  • Theft reported is by an insider like an employee

  • Natural calamities like flooding or earthquake, but you can add these as part of your protection coverage if you feel the area where you use the road compactor is prone to flooding.

The above are some examples of vital information that you need to know as a builder who handles numerous construction projects. If you feel overwhelmed by too many concerns and risk factors to the use of a road compactor, then seek the services of a licensed broker who specialises in heavy equipment policies, so that he or she can guide you when buying road compactor insurance.

Truck Insurance HQ are highly experienced brokers in the heavy machinery sector and can help and guide you through the process of choosing the right Road Compactor Insurance to suit your business. Call today for your obligation free quote on 1300 815 344 or request a quote online.