Insurance should be top of mind for equipment hire companies

By | 2020-03-10T10:58:11+00:00 March 10th, 2020|

As a hire company for mining equipment, there are many factors to consider when signing an insurance contract. That is according to Danie van Aswegen, commercial sales executive lead at B-Sure Africa Insurance Brokers.

Equipment hire companies have to ensure their insurance provides adequate cover. Image credit: Leon Louw

Equipment hire companies have to ensure their insurance provides adequate cover. Image credit: Leon Louw

“When you acquire plant and equipment with the intention of hiring, there are a number of requirements you will need to comply with before the broker will sign the contract. One of the most important requirements is that the equipment owner takes all reasonable precautions to safeguard the plant overnight. This can be done, for example, by erecting adequate fencing with lockable gates and security guards. Tracking devices in high-theft areas is key,” says van Aswegen.

He adds that it is critical that the operators of your equipment are experienced. “Owners need to make sure that operators are aware of the limits within which the equipment can operate. Moreover, they need to ensure, and validate, that operator’s licences and permits are valid and that they can operate the relevant machines,” he says.

To read more about what van Aswegen has to say, subscribe to our sister magazine Plant Equipment & Hire, or visit the website www.equipmentandhire.co.za