Heavy mechanical equipment insurance provides a solution for bodily injury and property damage caused by the operation of mechanical engineering equipment for various applications such as transportation, distribution, and performing a variety of engineering works such as crane work, earthworks, road paving, construction, and more. A heavy mechanical equipment insurance policy covers the activity of heavy mechanical engineering equipment which can be both stationary and transported.
At the Itzhak Simon Insurance Agency, we offer engineering equipment insurance that focuses on the correlation between heavy mechanical equipment insurance policy and contractor works insurance. Our familiarity with the subtleties and nuances in these policies, alongside the extensive knowledge we've gained regarding the risks involved in using heavy mechanical equipment (in terms of bodily injury and property), allow us to offer insurance that is both holistic and specific.
Our agency has been operating in the construction industry for over 35 years and is thoroughly familiar with the various insurance types. We would be happy to assist you both in initial consultation and in contracting the appropriate policy. We emphasize the relevant risk spectrum and personal tailoring including third-party insurance for engineering equipment, property insurance for engineering equipment, and employers' liability insurance for engineering equipment.
Thanks to our extensive knowledge, we will provide both attractive prices and creative solutions on short timelines (including issuing heavy mechanical equipment insurance policies quickly and without unnecessary delays).
Mechanical engineering equipment insurance - 35 years of experience providing peace of mind for contractors and entrepreneurs
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Why Should You Insure With Us?
The Itzhak Simon Insurance Agency offers you a precise connection between the contractor policy and quality, comprehensive, and professional engineering insurance. We will ensure that you have heavy mechanical equipment insurance that is tailored to the specific risks of the project and to the relevant heavy mechanical equipment at hand.
As an insurance agency that works with contractors and developers on thousands of projects nationwide, we will know how to create the right connection. The insurance coverage will be adequate, with appropriate amounts, and may include – if necessary – various extensions such as heavy mechanical equipment insurance with coverage for natural disasters, theft/burglary, malicious damage, earthquakes, legal protection, glass insurance, and more.
Property Insurance for Engineering Equipment
Property insurance for engineering equipment primarily deals with property damage caused to the equipment itself as a result of accidents, overturning, ignition, collision, and of course malicious damage or events of break-in, theft, and so on. It is very important to ensure that these property damages are included in the heavy mechanical equipment insurance policy for construction companies and contractors in light of the high value of the equipment and the (very) narrow response provided for this by relying on the contractor policy alone.
It should be noted that the coverage is derived from the value of the equipment with depreciation, and this is a situation that could create disputes between the contractor and the insurance company and/or the company that rented the equipment.
Third-Party Insurance for Engineering Equipment
Heavy mechanical equipment can cause severe damage to third parties. Whether in terms of significant property damage or bodily injury (including fatal workplace accidents).
Third-party insurance for engineering equipment is usually based on a combination of the contractor policy (contractor works insurance) and the specific type of heavy mechanical equipment. Thus, there is also a difference between heavy mechanical equipment that requires compulsory insurance (like a truck) and engineering equipment that does not require such insurance (like a tower crane).
At the Itzhak Simon Insurance Agency, we will ensure that you set out with the best possible protection with heavy mechanical equipment insurance for construction companies that includes coverage for third-party damages as well.
Employers' Liability Insurance for Engineering Equipment
Employers' liability insurance for engineering equipment needs to embody a precise synergy between heavy mechanical equipment insurance and the existing solutions within the contractor policy. The dialogue between the policies is well calculated both in terms of exclusions and in terms of appropriate insurance amounts and/or deductibles.
At the Itzhak Simon Insurance Agency, we take employers' liability in heavy mechanical equipment insurance seriously and advise our clients on the right path for them at the project level and at the specific heavy mechanical equipment level.
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