Machinery movers insurance and making sure your covered.
Any time that you are thinking about moving a piece of machinery by contracting machinery mover or you think about insurance. The federal government maintains that all trucking companies including machinery movers maintaining a minimum of $100,000 worth of car insurance. So if the piece of machinery that you are shipping is worth over $100,000 that you got a little problem. There’s two ways to go about this. Most people automatically choose a moving company that gives them the lowest quote. But if you have to purchase additional insurance that number could go up. While another company may have quoted you higher price to move your machine, they may have $2 million worth of cargo insurance. The most cost-effective way to purchase this insurance is through the movers existing insurance company. So you have to balance this out. In other words if your machine is worth $750,000, which is all the additional insurance going to cost you? When you’re shipping anything you have to think about these things. So, if you’ve got a company that either interested in using ship your machine or machinery than the first thing they asked for is a copy of their package. The word package is a commonly used term within the shipping industry that refers to the three documents. One being a W-9, the next being a copy of their federal authority and finally their church certificate. No matter what the value of the machine that you are preparing to ship is you want to get listed as a certificate holder on the movers insurance certificate by the insurance company. This way no matter what you are 100% covered in the unfortunate event of your shipment getting damaged.
Make sure your equipment is covered by insurance. Learn how.
Here’s how you get listed as a certificate holder on the moving companies insurance certificate.
- Call the insurance company all of the certificate and tell them that you would like to be listed as a certificate holder.
- They will ask you who is the insured. Tell them the name of the moving company you have in mind. Then they will ask you for your name and address as well as a fax number. If you need a temporary fax number you cane get one for free by searching on Internet. Some insurance companies will e-mail you a copy of the insurance certificate so be sure to ask them as well if you do not have a fax machine.
It’s as easy as that but if you don’t do it you may be at risk in the even of a claim.
Once you got this done your covered. In the event of a claim in your machinery is damaged is covered by the machinery movers insurance company. If you need additional insurance because your piece of machinery exceeds the amount of cargo the insurance company carries then you will have to balance the additional cost of this in addition to the shipping quote and figure out which machinery moving company is the most horrible and go with. It’s important that you do the proper amount of research on any transport company. This includes the machinery movers history as well. We have a tool that we designed specifically for this that searches the FMCSA (Federal Motor Carriers Safety Administration) database and simple by the process. It’s called the SAFERTool that you can use it free. Simply download a copy of it here, type in the name of the moving company you are considering working with and it will give you all of the information the federal government has about them including safety records, what type of transport authority they have and if there are any extra notations in their file. This tool is a little data miner for information and works well enough to have thousands of transportation professionals using it. It’s the only one that we know of. We also have a guide that will assist you in learning how to select the right machinery mover for your needs.