Navigating Plant Hire Financial Challenges
Insure With Insurance4plant
We have seen first hand, the financial constraints faced by plant hire companies in their day-to-day operations, some of which can lead to breaking points for businesses. Financial strain can be caused by numerous factors in the plant hire industry from poor cash flow management to unprecedented damage, or loss of equipment.
With our 25+ years of experience as insurance specialists, we have extensive knowledge tailoring our plans to the financial needs of companies with our wide offerings. We understand the importance of bespoke insurance solutions, making it our mission to cover all risks, giving you peace of mind that your equipment and machinery are protected.
Find out more here.
TALK WITH US TODAY FOR A PLANT HIRE QUOTE IN MINUTES
We have depicted a series of the most commonly faced financial challenges in the plant hire industry. Could you be at risk? See how Insurance4plant can provide you with increased financial security for your equipment.
Equipment damage or loss
One of the greatest financial burdens is caused by equipment damage or loss. Accidents happen, and machinery can be lost or impaired during operation or transport. Of course, the inability to use equipment leads to financial loss as well as potentially damaging the firm’s reputation if timelines are altered and deadlines are not met.
Hire equipment insurance provided by us can help mitigate the financial burden of repairing or replacing equipment.
Liability Claims
There are copious risks associated with machinery handling; equipment is often complex and a number of factors from insufficient training to equipment faults and breakdowns can pose the risk of injury or property damage.
Liability insurance coverage can protect legal expenses and compensation payments caused by injuries to third parties or property damaged by rented equipment.
Payment Delays & Cash Flow Management
A short delay on a payment may seem harmless, but something like this can cause a multitude of knock-on effects, such as:
- Operational disruptions
- Inability to invest in growth
- Increased borrowing costs
- Supplier and vendor strain
- Financial instability
Mitigate the impact of late payments and cash flow management with insurance policies such as credit insurance or payment protection.
Industry expertise and specialist cover from Insurance4plant
We understand that plant hire cover can be complex and overwhelming, which is why our specialists can help arrange bespoke cover for UK hire companies to address the constraints above, with our insurance coverage.
Insurance4plant covers under the facility include:
- Insurance4plant Combined Policy
- Insurance4plant Short Term
- Insurance4plant Contractors Plant Policy
- Management Liability
- Motor Fleet Policy
- Professional Indemnity
- Cyber
Contact the team today for a quick and easy plant hire insurance quote or to find out more about the unique coverage we can offer your business.
Insurance4plant typically work with the following types of businesses:
- Tool Hire
- Plant Hire
- Traffic Management
- Crane Hire & Contract Lifting Companies