Archive for October, 2013

Why Should You Get a Plant Hire Insurance?

plant machineryI thank the mind of the person who thought about insurance, imagine this, you save for years to buy a car, and when you buy it, you make an accident and the car get completely destroyed. Insurance covers the risk that are uncertain, meaning the risk can happen or it might not happen unlike assurance that mainly concentrates on life where one gets compensated in the event of death or end of term agreement, the insured party pays an amount called premium for the insured risk, which means that if the property is destroyed or rather gets affected by the insured risks, the insurer becomes legally liable to bring back the insured party to the position he was in before the risk occurred. This is what we term as compensation.

Insurance in itself is a vital strategy in all businesses, no one knows when a risk is most likely to occur, risk might involve, fire, accident, theft, and many more. Ignorance of many companies has led to a massive loss of machines and other special properties to risk, it is hence advisable for a company to insure their properties especially capital assets. I have personally witnessed a quarry company close down after theft of stone cutting machine, taking insurance cover for capital asset means one is covering for even the future of that company.

Insurance has many advantages as opposed to its disadvantages; security of the insured property is one of the advantages, you feel secured when you know that even after any anticipated loss occur, the insurer will compensate you fully or partially to the point you were before the risk happened. Another advantage would be to diversify risk; in fact this is the main principle of companies that insures. They insure more than one party, and in the event where one party falls into a risk, the compensation is paid from the premium paid by other insurer, basically that is pooling of risk.

A plant machine for hire in Belfast is not excluded from insurance policy, when you offer an operation lease for a plant you ought to have an insurance cover to it. Many people ignore this, Plant machinery is referred to as capital asset in a business, any damage or theft of the machine would even lead to a termination or a long pause of a company operations, capital assets are very vital in any business and care should be taken, when you hire a plant, you only expect some hiring cost according to the terms of the agreement with the person hiring it from you, it is important to note that, in the event of theft or damage of your plant when hired, that loss will be felt by you and not the person who hired it, this is one of the primary reasons why you should have an insurance cover to plant for hire. Plant hire insurance cover in general term is a contract between two parties, these are the hirer of the plant machine and the insurance company where the hirer who is the insured party agrees to pay certain periodical contribution of amount known as premium to the insurer against the peril of fire, accident or loss as a result of any damage.

There are many more reasons why one should have plant insurance cover , many construction companies for instance knows how expensive it is to buy and to maintain a plant machine, many construction industries have a short term contract and they employ operators to operate the plant machine, some operators are very careless and unprofessional and would mishandle the machine leading to destruction that might not be directly known, this might later cause a massive break down to the machinery, it is also logic that people do not take precautions of what do not belong to them, many are likely to mishandle hired machine.

In my conclusion, for the future of the plant machine, for a better service and more customers (hirer) . the machine need to be taken good care of, and this can be done by insuring the plant machine, there are many risks involved in using plant machines, maintenance cost would become more than hiring cost thus becoming uneconomical, to be safe on this. One would need to cover the machine on plant hire insurance cover policy and spread the risk.

Did you like this? Share it:
Read More

The Importance of Insuring Your Plumbing and Drains Cover

plumbing and drainsPlumbing and drainage problems are some of the most unprecedented reasons for spending in numerous households and businesses today. This system is a very sensitive part of a building and should be under constant watch for the purposes of safety. Whenever a leakage occurs on a gas pipe, for example, there is no time to wait. Fires have been known to emanate even from the slightest gas leakage in the past. Leakages of water pipes have also led to health hazards due to contamination of water and also flooding, whereby higher costs of control result.

Because plumbing and drain systems require constant monitoring and care, there is the need to have a backup plan on standby. Some of the major reasons on the the importance of insuring your plumbing and drains cover are;

Financing the repair

The insurance cover for your plumbing and drainage system will be your source of finance whenever emergencies occur. You are therefore, not going to have to solicit funds in any way for the repair purposes. Have in mind that the cost of repair will be taken care of no matter how much it is. Such costs include labor and purchase of new parts. However, this will also depend on the type of insurance cover quote that you select. The insurer will purchase the appropriate parts for the repairs and replacements, depending on the insurance cover you applied for. This saves you from all the hassle of getting parts and hiring labour.

Cover for Accidental Damages

Even for the accidentally damaged parts, you are able to get the repairs and replacements done, however, there are exclusions depending on a number of factors stated in different policies. The insurer will want the details of the accident’s occurrence to see whether it is within the policy or not, thus the need to be careful against accidents as much as possible.

Prompt Action

As soon as there is a case of damage, or blockage of drains, the insurance company usually acts fast. This is basically due to the fact that there is more risk to be involved if time continues to be wasted after a case is reported. Insurance companies therefore work on a 24/7 basis to ensure that there is always someone to attend to you when an issue comes up. The cover also starts immediately as long as every requirement within the policy is met.

Quality Parts

In most cases where there is a need for repairs to be done, the insurer will bring in the parts. As an insurer, they are well-versed with the best parts available in the market. They usually insist on quality parts to ensure the longevity of plumbing and drain systems. No insurer would enjoy making several repairs for the same household in one year; and this is how you shall benefit. The quality parts can then be fitted by professional plumbing engineers found at this plumbing services website.

Time Saving

All the responsibilities of getting the problem fixed is vested upon the insurer. They are responsible for hiring labor on your behalf in most cases and purchasing the parts. If you trust them for the job, you can save time by letting them fix the problem as you go on with your daily activities. There is also the added advantage of getting the best team to fix your problems due to the connections of your insurer on the market, resulting in quality work. There is a need for timesaving whenever the drainage blocks or a pipe bursts and thus there is really no time to hunt for a repair company if the insurer can get one for you.

NOTE: The insurance quotes differ in various ways from one another. This results in various types of offers being included for some quotes while left out in others. It will thus be wise for one to ensure that they understand their quotes very well before settling upon any one option. Take a look at the monthly charges to prepare your budget too.

Generally, an insurer would not fund certain maintenance woks for clients. Such include placing new ceramic disks for taps and upgrading the system into a new one. You should know what a quote can do for you in good time to avoid being caught unawares when the rainy day finally arrives.

Did you like this? Share it:
Read More