Overcoming Plant Hire Challenges
Overcoming Plant Hire Challenges: Why an Insurance Expert is Your Best Asset
The plant hire industry faces numerous daily challenges due to unforeseen circumstances, such as machinery breakdown, extreme weather conditions, financial constraints, or industry changes. In 2024 machinery downtime was recorded as the top challenge for 51% of professionals. Continue reading as we highlight the major pain points the plant hire industry feels and discuss why an insurance specialist is your best asset.
High Operational Risks
Operational risks including theft, machinery breakdown, operator error, or accidents on site are all challenges you risk facing in the plant hire industry. Often these challenges are unforeseen but can be detrimental to your business. For example, machinery theft, this accounts for millions of pounds lost across the construction industry annually, with very few being recovered. Mitigate these risks by ensuring your equipment and machinery are covered by short-term or annual hired in plant insurance from Insurance4plant.
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Stricter regulations
New legislation including new health and safety laws and changes to carbon emission targets and activities all impact the plant hire industry. Remaining up to date with new rules and regulations can be challenging, but failing to do so can lead to a number of risks for your business. Our plant and machinery insurance experts are on hand to provide you with up-to-date changes, to ensure you obtain the correct policy to cover your business.
Changing Driving Behaviours
Driving in poor weather conditions, especially those that winter tends to throw at us, requires a change in driving behaviours in order to keep both drivers, and others on the road, safe.
Safe driving needs good reactions and concentration, even more so with the added dangers of driving in winter weather.
- Speed: Stopping distances can be 10 times longer when it’s icy. Gentle manoeuvres and slow speeds are therefore key to staying safe on winter roads.
- Reaction Times: Good reactions are all important when driving in poor weather conditions. In the seasons for colds and flu, driving ability can be affected if a driver is feeling unwell. Cold-related medicines can also make drivers drowsy and affect their reaction times. Driving when unwell should, therefore, be avoided if at all possible.
- Distractions: Distractions can inevitably make a driver less observant and more likely to fail to anticipate the hazards around them. While it is difficult to obtain accurate data on the impact of distraction on road accidents, it is believed that over 70% of crashes and 65% of near crashes had inattention or distraction as a contributing factor. Such distractions include use of mobile phones, consulting satellite navigation and listening to infotainment systems.
Evolving Risk Landscape
While the UK is experiencing turbulent weather conditions this winter, risks caused by extreme conditions have increased. High winds, storms, and extreme frosts make it more challenging to stick to deadlines and complete projects on time. This can lead to supply chain disruptions, and to difficulties in handling and transporting machinery – just to name a few. Ensuring your workforce is trained correctly to operate machinery safely in bad weather is imperative, but will not eliminate risk completely. Annual or short-term plant insurance policies cover all risks, giving you peace of mind that your equipment and machinery are protected.
Technology Advancements
As technology evolves, the plant hire industry continues to change. Equipment is becoming more efficient, sustainable, and safer to use. From proximity sensors and radar braking to GPS tracking, adopting new technologies within your operations requires adequate training for all staff members to reduce risks for your business.
Why an Insurance Expert is Your Best Asset
- Our experts provide coverage tailored to your business
- We can assist with proactive risk assessment to identify potential vulnerabilities
- We will support you through any claims, helping to simplify the often complex processes.
- Our team of industry experts remain informed about industry trends and changes to keep policies upto date and effective.
Our 25+ years experience of providing insurance for plant hire means we have the knowledge to guide and support you with plant hire insurance. Contact our team now to receive a bespoke quote for your business.
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
Insurance4plant typically work with the following types of businesses:
- Tool Hire
- Plant Hire
- Traffic Management
- Crane Hire & Contract Lifting Companies