insurance for mini excavator

[rockstacker]

leasing to own 304cr to use on my land for next couple of years while i build. any suggestions on insurance

 

[pafarmer]

Yes, get some ! Attach it as a rider on your home insurance if for personal use on your own property unless its for a business then check your local , state laws governing liability etc....seek out consul from multiple sources or agencies that sell insurance. Normally fairly cheap to insure heavy equipment if for personal usage...

 

[rockstacker]

insurance

Yes, get some ! Attach it as a rider on your home insurance if for personal use on your own property unless its for a business then check your local , state laws governing liability etc....seek out consul from multiple sources or agencies that sell insurance. Normally fairly cheap to insure heavy equipment if for personal usage...

appreciate the info. thank you

 

[pafarmer]

Always Happy to help where and when I can......Welcome to HEF as well.....always great to see a New member on the forum....Be sure stop by often and contribute. Everyone has something to offer here, including you I am sure.....

 

[lumberjack]

I have my Kubotas insured through Kubota. Fantastic insurance as best I can tell... I think they will insure other brands as well.

 

[rockstacker]

inurance

I have my Kubotas insured through Kubota. Fantastic insurance as best I can tell... I think they will insure other brands as well.

My carrier that handles my automotive shop said no. reason being i dont do it for a living. and since Im in process of building I dont have any homeowner insurance yet. Im getting a quote from cat insurance but am told by contractor friend if your not in that profession they may refuse also. I dont get it, I will put less hours on it it will only be on my land and no one wants so far to insure it for me.

 

[Anthonycecil]

My carrier that handles my automotive shop said no. reason being i dont do it for a living. and since Im in process of building I dont have any homeowner insurance yet. Im getting a quote from cat insurance but am told by contractor friend if your not in that profession they may refuse also. I dont get it, I will put less hours on it it will only be on my land and no one wants so far to insure it for me.

Why do you really need it. I insured my new one for two years, as I was new to the machine and didn't want to take the total loss. Let it expire, and as I am more experienced, and careful, I think my worse fear is it being burned up, while a field burns or something like that. I always park it in a non flammable spot. Tony. PS it cost around a thousand dollars a year' little less.

 

[lumberjack]

Why not claim a DBA and do a paying job here or there to call yourself a business and thus able to get commercial policies?

I pay 1.5% of the equipment's insured value as an annual premium for inland marine coverage.

 

[Fastdirt]

The mini excavators and skid steers sure get stolen a lot. I was looking at the stolen machines sections today on Machinerytrader. Sad really.

I go with full coverage in fear of theft and fire.

 

[JD8875]

My min ex, CTL, dump truck and 953 are all insured with Acuity through a local broker for theft, vandalism and fire. I also have a million dollar liability policy. It all costs about $2400 a year. Out of that about half of it is the full coverage insurance on my 81 c60 dump truck. You might also look into Ag insurance if using it on your own property.

John

 

[rockstacker]

insurance

My min ex, CTL, dump truck and 953 are all insured with Acuity through a local broker for theft, vandalism and fire. I also have a million dollar liability policy. It all costs about $2400 a year. Out of that about half of it is the full coverage insurance on my 81 c60 dump truck. You might also look into Ag insurance if using it on your own property.

John

Ill give that a try also. Thankyou all for input

 

[rockstacker]

Ill give that a try also. Thankyou all for input

Just got a quote from Cat. 50 bucks a month for complete coverage. Seems fair enough. So far Cat has been very good to work with, now if machine is as good ill be happy.

 

[murphy777]

I Insure my equipment with an "inland marine" policy, I have no idea what inland marine means but it costs me 250$ a year and I keep it on my mini which is not yet paid for, the bank likes to see it insured until it is paid for…...

 

[Garrie Denny]

You might like to check your policy, inland marine might mean up a creek without a paddle if you want to make a claim.

 

[murphy777]

You might like to check your policy, inland marine might mean up a creek without a paddle if you want to make a claim.

I think you are right….it covers the loss of the equipment/balance of the loan only for a complete loss, like a fire or a total crash, and the money goes back to the bank, not in my pocket towards a new machine….