Why do I need Hired Equipment insurance?
If you hire plant or equipment, the hire company will often expect you to insure it whilst it is in your possession. If you already have certain types of insurance, such as a contract works policy, this can normally be added, but you may need specific or additional coverage. The hire contract may also insist that you cover the ongoing cost of lost hire charges if the plant or equipment is damaged or stolen.
Thieves often target plant and equipment, so you must also ensure adequate security arrangements are in place.
What insurance do I need to consider?
Every club, organisation, and race is unique, so no ‘one size fits all’ insurance plan or solution exists. Aside from hired equipment insurance, there are some other recommended insurance options for your club, such as:
Public Liability
Personal Accident
Cyber Insurance
Legal Expenses
Kit & equipment
Employers Liability
Event Cancellation
Sports travel insurance
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For almost 20 years insurance premiums in the sport & leisure sectors have been stable or even getting cheaper. However, in recent months the market has hardened to the extent that some policyholders are seeing their premiums double, treble or even almost impossible to obtain cover.
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Interested in Mann Broadbent’s Hired Equipment Insurance?
Get in touch with us and see how we can assist your hired equipment insurance needs.
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