Buy Insurance Before Moving Your Machinery
An impressive state-of-the-art vibratory installation rig used for pile driving, the TM 12/15 LR, has been on a long journey from Germany to the UK and is now set to revolutionise infrastructure widening schemes, following its arrival on UK soil.
This rig, commissioned by Preston-based Sheet Piling (UK) Ltd, should transform the construction processes surrounding civil engineering projects around Britain’s SMART motorway network, due to how far it can reach.
The rig’s reach is a full three metres further than that of any other rig in the world, measuring 8.1-metres horizontally. This presents contractors with huge advantages. Rather than having to pile drive from an area specially prepared off the motorway carriageway, this rig can stay on the existing carriageway whilst operating. Vehicle traffic into and out of the site is then significantly reduced, keeping traffic on the rest of the carriageway flowing much better.
Whilst the logistics behind getting such a piece of equipment from one country to another are impressive, such an exercise also needs the right type of insurance protection behind it, regardless of whether the equipment is a construction vehicle, or another type of machine. Handling, loading and unloading exercises all carry some risk, whilst theft, fire damage and accidents are all possible during transit.
Fortunately, there is a specific type of insurance policy that covers such exercises in the form of Machinery Movement Insurance. This is typically bought by the manufacturers or owners of machinery, but also by specialist movers, installation engineers and plant hauliers. The premium paid depends on the replacement value of the machine damaged or lost in transit.
The insurance policy is not day-to-day protection, but one that covers machinery handled during defined journeys and operations. Policies can protect the risks involved in just one operation, whether that is moving it from an unloading point to where it will be put into action, or moving it from the position where it was intended to work to one close by, if the timeframe between the change of location is short.
There are additional options too, which include buying protection against the risk of loss or damage to the equipment during testing and commissioning. Some policies will also allow the insured’s machinery to be covered if they regularly re-site it.
Purchasing expensive machinery typically involves a lot of commitment and having that machinery available for your business’s needs is essential. This makes protecting it whilst on the move absolutely key.
If you wish to know more about Machinery Movement Insurance, please get in touch.