Excavator Insurance: Cost & Quotes

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Updated: March 27, 2025 . 9 min read

Written by Ofir Sahar

CEO & Founder

Ofir Sahar

CEO & Founder

Some of the products on this page come from partners who may compensate us when you click on their links or take specific actions. This helps us keep our content free. That said, our opinions are our own and based on independent analysis.

 

Do you need insurance for your excavators? The answer is yes. Why? According to National Institute for Occupational Safety and Health;  346 excavator-related deaths were recorded between 1992 – 2000. 

Furthermore, a review the agency conducted in 2000 – 2001 showed that deaths were mainly caused by being hit by the machine itself or through its quick disconnect buckets.

To manage all the risks that come with operating heavy equipment it’s vital to have excavator insurance also known as digger insurance.

This article explores everything needed about getting your hands on heavy equipment insurance for an excavator you’re renting or owning.

 

Excavator Liability Insurance

Excavator liability insurance shields from claims filed against you by third parties. This can include the developer running the project, the business or person who owns the land that you’re working on, or even casual strangers.

Liability coverage for excavators can be classified as general liability insurance and public liability insurance.

Business Insurance for Excavation Contractors 

Excavation contractors insurance policy is a tailored coverage for businesses that provide excavation services for different ventures in the construction industry. Included in this specialized insurance plan are numerous types of business insurance for excavation contractors, namely:

  • General liability insurance
  • Professional liability insurance
  • Workers compensation insurance
  • Commercial property insurance

General Liability Insurance for Excavators 

Similar to bulldozers and dump trucks, excavators are very dangerous. This is why companies always include general liability coverage in their specialized excavators insurance. 

General liability insurance for excavators will help to covers the following risks:

  • Third-party personal injuries- If a claim is filed, this excavation liability insurance will take care of the aggrieved person’s medical expenses 
  • Third-party property damage-Your excavator is also covered by general liability insurance if it causes an accident that results in the possessions of third parties incurring damage. If a person files a claim, this excavating insurance will reimburse the value of the damaged property 
  • Legal expenses-In personal injury claims and property damage claims, general liability insurance takes care of your attorney fees, administrative costs, and the settlements to be given if ever aggrieved third parties win the lawsuit .

 

Professional Liability Insurance for Excavator Contractors 

As a contractor, you’re surely working with operators hired to take charge of the excavators owned by your business. Such employees might commit a mistake or be negligent while operating a unit. 

This excavation business insurance provides help in such a situation. Professional liability insurance will cover attorney fees, settlements, administrative costs, and other related expenses if aggrieved third parties, who suffered economic or financial losses due to your excavator, sues for:

  • Negligence
  • Misrepresentation
  • Violation of good faith
  • Violation of fair dealing
  • Breach of confidentiality
  • Missed deadlines
  • Inaccurate advice 
  • Other causes of action considered errors and omissions 

Note that excavation insurance companies underwrite professional liability insurance as a claims-made policy or occurrence policy. 

Excavator Contractor Commercial Property Insurance 

Your excavator insurance quote will offer commercial property insurance. Commercial property insurance functions to cover tangible business assets. When bought as a basic business policy, commercial property insurance provides coverage for:

  • Building damage-Commercial property insurance will take care of repair expenses if your business’s covered building sustains damage due to fire, theft, vandalism, and other covered perils.
  • Building destruction-If your business’s covered building is destroyed by fire or extreme weather, commercial property insurance provides the money you can use to cover reconstruction costs

Excavator Contractor Equipment Breakdown Coverage

Equipment breakdown insurance is very useful in your work as an excavator contractor. This will recoup losses if a covered excavator sustains damage while being used. The theft of the entire unit or its parts is also covered. 

Note that equipment breakdown coverage is an automatic inclusion in excavator hire insurance policies. Another thing, this coverage isn’t only useful for excavators but also other equipment such as skid steers and dump trucks too. 

Workers Compensation Insurance for Excavator Contractors 

Workers compensation insurance is a coverage for your excavators’ operators. This will cover expenses if ever they sustain a work-related injury or disease. Particular things covered are:

  • Surgeries, therapies, and other medical treatments procedures
  • Medication
  • Hospitalization
  • Lost income compensation
  • Rehabilitation
  • Death benefits 

Mini Digger Insurance 

Mini digger insurance is a specialized coverage for those using small excavators for projects. Inclusions in tailored mini excavator insurance are general liability, equipment breakdown, and theft insurance. 

General Liability Insurance for Micro Diggers

This micro digger insurance covers expenses if a third party sues you for personal injuries or property damage. Unlike the general liability insurance for excavators, the general liability insurance for micro-diggers can have an additional equipment and tools coverage, depending on the carrier that underwrites it. 

Equipment Breakdown Insurance for Micro Diggers 

You can cover your micro digger with equipment breakdown insurance. This cover costs if the micro digger sustains damage due to fire, usage, theft, and other covered perils.

 Note that, depending on the carrier underwriting it, equipment breakdown insurance can provide a replacement if your micro digger gets damaged or stolen and is deemed unusable. Note that equipment breakdown coverage is a common inclusion in tailored forklift insurance

Backhoe Loader Insurance

Excavators are different from backhoes though both are related. Backhoes are slightly smaller and can be used for other tasks aside from those which an excavator usually does. And so, you can find insurance companies providing backhoe loader insurance. 

Inclusions in tailored backhoe insurance are equipment breakdown coverage, commercial property insurance, commercial auto insurance, and general liability insurance. 

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Excavator Insurance Cost

Excavator insurance cost starts at $83 per month or $996 per year for a $1 million general liability insurance coverage.

Rates depend on your business’ safety record as well as other factors such as the cost of the diggers you’re using, your business size, claims history, location, gross income, and more. 

Mini Excavator Insurance Cost

Mini excavator insurance cost is determined by a lot of factors. For instance, while machine size is a major determinant of your mini excavator insurance cost, there are also secondary factors, like the decreased probability of an accident happening, and scale of the damage done. 

Bobcat Insurance Cost

Bobcats or skid steers are sometimes used in tandem with excavators and mini-diggers. So how much does excavation insurance cost for these machines? Based on our research bobcat insurance cost is $67 per month or $804 per year for a $1 million general liability coverage. 

 

Best Excavator Insurance Companies

CoverWallet 

CoverWallet is an insurance broker that covers excavators and contractors online. This company sells commercial property insurance and general liability insurance for excavator contractors.

 Excavators, the machine themselves, can be insured with equipment coverage and other insurance policies that cater to equipment damage.

 CoverWallet is one of the excavating insurance companies that provide you with a free certificate of insurance. 

Average cost: $80 per month

Our rating: 10/10

Pros

  • Has terrorism coverage
  • Get insured, pay premiums, and manage your insurance online
  • Cancel a policy anytime 

Cons

  • Not an insurance company but a broker 

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Thimble

Thimble also provides digger insurance online. However, you must know that the company doesn’t underwrite it. The excavator insurance you’ll get from this company is underwritten by Tivly®. 

Policies you’re sure to avail are general liability, commercial property, professional liability, and commercial umbrella insurance. 

Average cost: $90 per month

Our rating: 10/10

Pros

  • Add additional insureds for free
  • Cheap deductibles 

Cons

  • Has an online quotes system but customers buying excavator insurance from Thimble can’t get quoted 

Next 

Pros

  • Live certificate of insurance
  • 10% discount when buying two or more policies from Next

Cons

  • Doesn’t sell stand-alone theft coverage for excavator contractors 

Next provides coverage for excavator contractors consisting of general liability insurance, professional liability insurance, tools and equipment insurance, workers compensation insurance, commercial property insurance, and commercial auto insurance. 

Next is a great option if you’re planning to buy a lot of coverage because it provides 10% if you bundle two or more insurance policies. 

Average cost: $300 per month 

Our rating: 9/10

Progressive

Progressive insures excavation businesses through its construction insurance plan. Inclusions are general liability, workers compensation, and commercial auto insurance. Alternatively, you can opt to get a business owner’s policy. 

 If you already have commercial auto insurance from Progressive, you’ll enjoy a discounted rate on excavator business insurance policies. 

Average cost: $408 per month 

Our rating:  9/10

Pros

  • Enjoy a discounted rate if you already have a Progressive commercial auto insurance

Cons

  • Doesn’t have a specialized excavator business insurance policy
  • Doesn’t sell short term mini digger insurance

Compare Excavation Insurance Quotes

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State Farm

State Farm provides coverage for excavation businesses. However, this depends on the nature of business operations.From State Farm enjoy the protection of commercial property insurance, equipment insurance, general liability insurance, and other policies the company is selling. 

Average cost: $419 per month 

Our rating: 8/10

Pros

  • Fast to handle claims
  • Dedicated customer service channels for different complaints and issues 

Cons

  • Doesn’t provide excavator insurance online quote; get in touch with an agent

The Hartford 

The Hartford’s excavator contractor insurance provides you with a waiver of subrogation, free naming of additional insureds in your policy, and products and completed operations coverage. 

Endorsements can be added for more protection such as contractual general liability coverage, limited professional liability coverage, and more. 

Average cost: $397 per month 

Our rating: 8/10

Pros

  • Excavator contractor insurance comes with waiver of subrogation
  • Name additional insureds for free
  • Numerous endorsements for your excavator contractor policy for more protection 

Cons

  • Doesn’t sell commercial auto insurance for excavators 

Liberty Mutual 

Contractors like you can insure your excavators with Liberty Mutual through its contractors equipment and tools insurance. Coverage applies to excavators you own, lease, or rent. 

Average cost: $456 per month 

Pros

  • Work with in-house team of insurance adjusters when buying a policy and filing a claim

Cons

  • Doesn’t sell a tailored excavator insurance quote

Our rating: 7/10

 

About the author

Ofir Sahar

Ofir is the founder and CEO of Insuranks. He established Insuranks in 2019 from scratch and has been running educational insurance websites since 2009 on a mission to help businesses...See full bio.

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