Are you already excited about buying screw compressor insurance? Before you commit to any insurer who presents the different types of protection coverage, you should consider the do’s and don’ts you should apply when buying an insurance policy.
Do’s when buying the screw compressor insurance
Do a profile check of the prospective insurer
Yes, this is a must regardless of whether you are buying a screw compressor insurance policy or looking for prospective insurer, undertake a profile check. Why? Performing relevant research of the insurer’s overall reputation will guarantee you are dealing only with a top performing insurance company.
Do ask for a free quote
When you have made a final decision to buy the screw compressor insurance, ask for a free quote. A free quote will give you an idea of how much to allocate for your insurance monthly payment.
Do compare proposed policies and prices
Another approach to ensure you only buy the best screw compressor insurance policy is by comparing proposed policies and prices. Keep in mind, insurers can offer you different types of protection coverage with varied prices based on your specific needs. It’s really up to you to do due diligence and compare these proposals before you commit.
Do assess the risks your compressor is exposed to
For you to see the bigger picture about what could happen to you if your screw compressor is stolen, damaged or involved in a major accident, you need to carefully assess the risks that this unit is exposed to while in use or when stored. Remember, if you don’t have any idea of the level of risk involved with this unit you might buy the wrong protection coverage.
Do hire a broker
Yes, this is a wise move if you really want to achieve a good deal with your screw compressor insurance purchase, hire a licensed broker who specialises in heavy equipment and machinery to help you.
Do a final review
It’s necessary that you do a final review of the copy of your proposed screw compressor insurance policy even if you hire a broker. There might be issues left out, overlooked or missed during the one-on-one meeting with your insurer such as your preferred budget or a misunderstanding regarding the extent of protection you want. A final review will save all the trouble of having to redo the entire policy or wasting time preparing another copy.
Don’ts when buying screw compressor insurance
Don’t make a quick decision
Buying an insurance policy should not be done in a rush. I advise you spend quality time assessing your needs, risks involved, and available funds to ensure you aren’t making a wrong move.
Don’t easily commit
Yes, don’t easily commit to just any insurer or the first you meet. It’s appropriate to give yourself a chance to review everything before you sign a proposed screw compressor insurance policy.
Don’t delay the decision making
Lastly, for peace of mind and your safety against unforeseen incidents resulting in more financial burdens, don’t delay the decision to insure your screw compressor.