Backhoe Insurance in Vermont
What is backhoe insurance?
Backhoes and tractors are specialized pieces of equipment, and thus require a specialized insurance policy. Backhoe insurance is one of the best types of insurance policies for Vermont businesses that have this equipment to purchase.
Backhoe insurance policies provide the specialized insurance coverages that backhoes and tractors need. Most policies include terms that protect the equipment, and that protect against accidents.
What Vermont businesses should carry tractor insurance?
Vermont businesses should consider tractor insurance if they have backhoes and/or tractors. A policy might be helpful regardless of whether the equipment is owned, rented or leased.
For instance, the following are some examples of businesses that might purchase one of these policies:
- General contractors
- Construction outfits
- Demolition crews
For these businesses, tractor insurance is one of multiple insurance types that are often needed. For this reason, tractor coverage is often lumped together with other coverages in a larger commercial package policy. General contractor policies, construction policies, demolition policies and landscaping policies are various types of commercial package policies that may include tractor coverage.
What coverages are included within tractor insurance policies?
Tractor insurance policies usually have multiple coverages, which is why these policies can protect against both damage and accidents. Some coverages that policies frequently include are:
- Damage or Destroyed Coverage, which might cover damage that a backhoe/tractor sustains
- Theft Coverage, which might cover the loss of a backhoe/tractor if it’s stolen from either a facility or worksite
- General Liability Coverage, which might cover common accidents occurring on or around a backhoe/tractor
- Operating Risk Coverage, which might cover accidents that occur while a backhoe is being used
- Rental Reimbursement Coverage, which might cover the cost of a temporary rental backhoe/tractor
An insurance agent who specializes in tractor policies can help businesses ensure they have all of the coverages that are appropriate given their equipment and usage.
Can tractor policies cover other types of equipment?
Some backhoe/tractor policies are able to cover other similarly sized equipment, such as hydraulic hammers, pavers, post-hole diggers, road rollers and other items. Not all tractor policies’ terms allow them to extend coverage to other equipment, however. Some are specific to backhoes and/or tractors.
Businesses that need coverage for equipment in addition to tractors and backhoes should work closely with a knowledgeable insurance agent. A knowledgeable agent will be able to compare different policy options, and suggest one that provides coverage for the equipment that a business uses.
How much does insuring a backhoe or tractor cost?
The premiums charged for tractor policies vary, depending on several factors. Some of the details that commonly impact cost include:
- Where a backhoe/tractor is stored when not in use
- Where a backhoe/tractor is used
- How large or small a backhoe/tractor is
- What deductibles and limits are chosen
- Whether the business recently filed any claims
An independent insurance agent can help businesses compare customized quotes from several insurance companies. This is one of the easiest ways to find out how much insuring equipment in a specific situation will cost. In most cases, the rates for policies can be quite affordable.
How can Vermont businesses get a backhoe insurance policy?
For help insuring a backhoe, tractor or other similar equipment, contact the independent insurance agents at T.S. Peck Insurance. Our agents will work with you to determine coverage needs, and then we can show you various policies that meet your Vermont business' particular needs. With our assistance, you can have confidence that the backhoe insurance policy you ultimately select will protect your equipment well.