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Heavy Equipment Insurance & Earthmoving Equipment Insurance

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Homepage > Business InsuranceHeavy Equipment Insurance & Earthmoving Equipment


Earthmoving is a risky industry, and we’re not talking about the potential for accidents on the jobsite, though those are significant. A large part of the risk in earthmoving is financial risk, and this stems from the fact that it can cost you significant sums of money to repair equipment that has been damaged.

This is where heavy equipment insurance comes into the picture. This kind of business insurance will allow you to mitigate the risk involved in performing jobs so that one thing going wrong won’t end up being the end of your business.

Over the course of this guide, we're going to cover the details of business insurance for heavy equipment, including how much you can expect to pay for it and how it differs when you own the equipment vs. when you’re leasing it. Let’s start with the most pertinent info: heavy equipment insurance costs and quotes!

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Heavy Equipment Insurance Cost

There is no such thing as the best heavy equipment insurance policy because each of them depends on what kind of gear you’re trying to insure and your business’ record. The most important thing to insurers is safety, and if you can prove that your contractors work safely and effectively, you’ll have lower rates.

That being said, the kind of equipment that you’re trying to insure will also impact the cost of your policy. Trying to insure a full-sized excavator will undoubtedly be more expensive than insuring a small tractor.

For the sake of this heavy equipment quote comparison, we’re going to provide you with the rates that you can expect to pay when insuring a medium-sized backhoe that is relatively new and operated by a company with no recent safety violations:

CompanyCost per monthCost per year
Progressive$247$2964
Liberty Mutual$268$3216
The Hartford$230$2760
State Farm$280$3360
Zurich$288$3456
AIG$299$3588

Keep in mind that there’s no guarantee that you’ll get the same rates for your earthmoving equipment insurance due to differences in your specific earthmoving business and the equipment that you’re using. The best way to find out how much it’s going to cost you to insure your gear is to apply for a quote.

To get a cheap heavy equipment insurance quote, be sure to never go with the first quote that you get. Instead, you’ll want to do a bit of searching to find out how much you can expect to pay based on the company that you’re working with. As you can see from the list up above, some companies may offer significantly higher rates for the same kind of policy.

To compare heavy equipment & earthmoving equipment insurance quotes online with ease, simply click the 'Get Quotes' button below, fill in the required information and follow the simple process - and you will get multiple quotes from some of the best heavy equipment insurance companies in the market! So you can compare coverage options and find the best one for your specific business needs!

Compare Heavy Equipment Insurance Quotes

Get all the best quotes from leading providers in a click of a button!

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heavy equipment

Types of Heavy Construction Equipment Insurance

Along with the heavy equipment insurance companies that you have to choose between, you’ll also want to decide on the kind of policy that you get for your earthmoving gear. 

There are four main types of policies that work best for heavy construction equipment: general liability insurance, commercial auto insurance, contractor’s tools and equipment insurance, and workers’ compensation insurance.

General Liability Insurance

This kind of heavy machinery insurance is designed to cover third-party risks while including damage that has been caused to the property of the client that you’re working for while excavating. In many cases, other insurance policies won’t cover you from third-party claims, which are made by anyone except for the insurance company.

This kind of insurance can also protect you from paying out huge sums when someone on the job site suffers an accident from a slip and fall. Finally, you’ll also be insured for product liability when you opt for this kind of coverage.

Learn more about general liability insurance

Commercial Auto Insurance

Commercial auto insurance is another form of earthmoving insurance that you should get your hands on if you want to ensure that you don’t end up getting nailed for third-party incidents. In most cases, this kind of insurance should cover you in the event of third-party injuries, at least.

However, the main thing that this will cover you from is damage to your earthmoving equipment that is incurred through collisions. It will also ensure that you don’t have to pay out in case your vehicles are damaged by vandalism or even if they end up getting stolen from the job site.

Read more on commercial auto insurance

Workers’ Compensation Insurance

Workers’ compensation insurance (also known as workers’ comp) is a form of insurance that you likely already have if you’re currently employing people. This is because workers’ comp is required in all states to ensure that workers have a safe working environment and that they’re covered in case of accidents.

This kind of coverage will kick in if you have to pay for medical expenses for your employees due to an accident on the job site. It will also allow you to cover your employees if they end up losing wages due to an accident. Finally, an insurance policy of this type will cover you in the event of an employee injury lawsuit.

Learn more on workers compensation insurance

Contractor’s Tools and Equipment Insurance

While this kind of policy may seem like it only covers smaller tools at first glance, you may be surprised to learn that it also covers mobile equipment like earthmoving vehicles. These policies exist to pay for repairs and replacements if equipment ends up getting damaged, stolen, or even lost.

Contractor’s tools and equipment policies tend to pay out if your equipment is less than five years old and it also ensures that you’re covered if you lose smaller equipment, like handheld tools.

Heavy Equipment Rental Insurance

In some cases, you can expect the rental company that you’re getting your earthmoving equipment from to cover all of the insurance needs, but this isn’t always the case.

For example, the rental company may not carry the right kind of insurance to cover you if something goes wrong. They may also not have enough coverage to ensure that you aren’t liable for damages out of pocket. Be sure to carefully review the contract and ask pertinent questions to ensure that you won’t be left in a difficult position if something goes wrong.

Compare Heavy Equipment Insurance Quotes

Get all the best quotes from leading providers in a click of a button!

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