A-Plant adds insurance for customers

A-Plant is offering its customers insurance against loss of and damage to the equipment hired from the company.

The insurance, called A-Guard, covers loss and damage up to £100,000 in any one incident for a premium of 15% of the hire fee. A-Guard is a stand alone insurance policy drawn up in conjunction with the Hire Association Europe and HSB Insurance, and is expected to be attractive to small and medium-sized contractors.

When a customer requests the insurance, the premium is applied to all the equipment they hire unless and until they notify the hirer the cover is no longer required. A-Plant’s marketing director Asif Latief said its surveys had indicated the need for this type of insurance and it has trained over 350 staff members to meet the requirements of the Financial Services Authority in order that they can explain the system to customers.

While £100,000 can easily be breached with the theft of two or three machines from site, Latief said experience of multiple thefts of big plant is rare and the firm’s bigger items are fitted with tracking systems and do not carry any insurance excess.