What kind of insurance should excavators buy? Construction Machinery Insurance Guide

What kind of insurance should excavators buy? For a long time, many excavator owners will consult online or with friends about what insurance should they buy for their excavators? Because excavators are the same as motor vehicles, once an accident occurs, there will be a lot of accident expenses. Taking out a suitable insurance is not only the protection for the owner of the excavator, but also for the love of the machine. Today, I will give you an all-round introduction to various types of excavator insurance, and whether excavators need to buy compulsory traffic insurance, let’s find out together.

What insurance should excavators buy

What kind of insurance should excavators buy? On the whole, if you purchase compulsory traffic insurance and comprehensive insurance for construction machinery and equipment from a property insurance company, drivers can also purchase accident insurance for themselves. If the comprehensive insurance for construction machinery and equipment includes driver accident insurance, you don’t need to buy it separately.

Let me talk about the comprehensive insurance of construction machinery and equipment here, which includes main insurance and additional insurance. The main insurance and property comprehensive insurance are basically the same. Additional insurance includes collision and overturning, third party liability, robbery, spontaneous combustion and employer liability.

One: The main insurance, that is, construction machinery equipment insurance + additional collision and overturning insurance, mainly for accidents caused by external factors such as natural disasters.

Two: Third-party liability insurance, mainly for accidents during the insurance period that cause third-party personal injury or direct property damage.

Three: robbery, spontaneous combustion, employer liability insurance.

Different insurance companies may have different insurance businesses, but in general they are the same, as long as everyone can distinguish the insurance coverage.

What insurance should excavators buy

Does the excavator need to buy compulsory traffic insurance? What kind of insurance should excavators buy?

If the excavator is used within the specified range, there is no need to purchase compulsory traffic insurance, because accidents occur during the operation, which are not traffic accidents. However, if the excavator is driving on the road and an accident occurs, and it causes property damage or personal injury, it is a traffic accident and belongs to the category of motor vehicles, so you should purchase compulsory motor vehicle traffic insurance. So if your excavator has a public transportation license (it can be driven on the road), you need to purchase compulsory traffic insurance, basic insurance (including vehicle loss insurance and third-party liability accident insurance), and then additional insurance for the owner's voluntary insurance.

Here I suggest that if construction machinery such as excavators needs to be transferred to the workplace, it should be transported using special haulage tools in accordance with regulations. Otherwise, if you drive directly on the road, you still need to buy compulsory motor vehicle traffic insurance to be safer.

The above is a brief introduction of which insurances should be purchased for excavators. Specific machine owners should consult property insurance companies in multiple ways to understand different types of insurance, purchase suitable excavator insurance, and add a guarantee for their excavator operations.