HireGuard Insurance

We all know accidents happen.

Some accidents can be more costly than others, especially when it comes to plant machinery.

HireGuard Insurance is there to act as a safety net, to give you peace of mind should the worst happen.

In this section we cover all the information you need to know about HireGuard Insurance.

If you would like any further information, please contact us or call into our depot to speak with us about HireGuard.

HireGuard Customer Pack Download

WHAT IS HIREGUARD?

HireGuard Insurance is an insurance policy that we can offer you, designed specifically for the hiring of machinery, tools and equipment. In short, it covers you against damages and theft of machinery whilst on hire to you.

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SUMMARY OF COVER

PROPERTY HIRED OUT UNDER HIREGUARD INSURANCE IS COVERED FOR:

Physical Loss or damage at any situation in UK and Western Europe (or other geographical areas as agreed with insurers) including whilst in transit between such situations.
A limit of liability up to £100,000 any one occurrence with no Single Article Limit.
Full Replacement Value for all property up to 24 months old; property replaced to nearest higher specification when necessary; property more than 24 months covered on an indemnity basis.

PRINCIPAL EXCLUSIONS

Policy Excess
Continuing hire charges and any loss which happens as an indirect result of an event for which you are insured.
Loss or damage to cutting edges (other than diamond cutting systems), tools, trailing cables, flexible pipes other than:

a) when such loss or damage results during operation of the complete item of Insured Property

b) when such loss or damage results from the total loss of the complete item or items of Insured Property

c) when such attachment is a separate item specified on a Contract Note

d) when it is a standard part of the equipment package supplied and cannot in normal circumstances be omitted from such equipment package

Loss or damage whilst in or on a vehicle unless:

a) all doors are locked and windows/openings are closed and securely fastened whilst unattended

b) property is securely mounted or fixed to the vehicle or kept in a suitable container whilst in transit

Loss or damage due to:

a) cleaning or failure to clean and conduct of routine maintenance of the property

b) breakdown or breakdown prior to commissioning or wear and tear

c) wilful act or neglect

d) derangement

Any difference between any claim payment and any sum payable under industry recognised terms and conditions such as those laid out by the by the Hire Association Europe.
Loss or damage to property on the First Insured’s premises when not under a Contract with HireGuard to the Second Insured
Loss or damage due to Fraud or Dishonesty of Employees
Equipment not collected 5 working days after being officially accepted as “off hire”
Inventory losses and unexplained losses
Loss or damage to brittle items unless loss or damage of the consignment occurs during the operations of packaged pending loading or transit, during loading, transit or unloading or packaged pending unloading
Legal liability for injury to third parties or damage to their property
Loss by fraud or theft if security checks have not been undertaken as specified
When more specific insurance has been arranged by a representative of the First Insured
Loss or damage caused by multiple lifts which are not carried out in accordance with BS7121
Pollution or change in water table
Terrorism

This is a summary of cover only and is not intended to replicate full policy Terms and Conditions and should not be relied upon.

Master Policy can be viewed at the offices of Marsh Ltd. A copy is available on request.

HOW MUCH DOES IT COST?

POLICY COST

The cost of taking out a HireGuard policy is simple, the insurance premium is 15% of the base hire cost excluding VAT.

For example, if the cost of hiring a machine for a day came to £100 then HireGuard insurance policy would cost £15.

The insurance premium is not subject to VAT.

EXCESS CHARGES

In the event of a claim being made, you will be subject to the following excess charges:

Claim Amount Between £0 - £1,000 - £100.00 Excess

Claim Amount Between £1,001 - £2,500 - £250.00 Excess

Claim Amount Above £2,500 - £500.00 Excess

Excess Increasing to £1,000 in respect of theft and malicious damage

If you would like the costs of taking out a policy or the excess charges explained in more detail, please contact us or call into our depot to speak with us.

HOW DO I GET COVERED?

INFORMATION WE REQUIRE

If you have decided that our HireGuard Insurance Policy is suited to your needs and would like to take out cover, you will need to provide us with the following:

1 x photo identification (e.g. driving licence or passport)

1 x proof of address (e.g. bank statements, utility bills)

WHAT WE DO WITH THIS INFORMATION

The information we collect from you is stored according to our privacy policy. We only pass on your information to the insurers for the purpose of validating the policy.

FAQ'S

FINANCIAL CONDUCT AUTHORITY (FCA)

The FCA is the independent watchdog that regulates financial services. It requires us to give you this information. Use this information to decide if our services are right for you.

YOUR DEMANDS AND NEEDS AND MARKET SELECTION:

In obtaining your quotation we have only approached one insurer, Zurich Insurance Plc. We have chosen to only work with this insurer for HireGuard because this policy is designed to meet the demands and needs of plant equipment hirers who wish to insure on an 'all risks' basis against their contractual liability, arising as a result of loss or damage for the replacement cost of the equipment hired up to 2 years old, thereafter replacement less depreciation subject to the principal exclusions detailed above.

In sourcing insurance(s) for you we act as your agent. In placing insurances for you and in the event of a claim we normal act as your agent but should you instruct us to proceed and place this insurance, Marsh Ltd will do so under a "delegated authority" granted by the insurers, which means we also act as agent of the insurer and have authority to accept insurance risks, issue documentation and handle claims (in accordance with agreed terms) on their behalf.

WHICH SERVICES WILL WE PROVIDE YOU WITH?

We will not offer any advice and you will need to make your own decision regarding the suitability of any policy of insurance purchased.

WHAT WILL YOU HAVE TO PAY FOR OUR SERVICE?

We normally receive a commission from the insurer with whom we place your business and in addition we charge an arrangement fee of: £0 (zero).

WHO REGULATES US?

Brian Dent Ltd is an Appointed Representative of Marsh Ltd

This can be checked on the FCA’s register at www.fca.gov.uk/register or by contacting the FCA on 0800 1116 768. Our permitted business includes arranging and assisting with the placing and administration of plant and equipment hire policies.

WHAT TO DO IF YOU HAVE A COMPLAINT?

Our aim is to provide a first class service, however if you wish to register a complaint please write to:

Complaints Department

Jelf Insurance Brokers Ltd

Castlemead

Lower Castle Street

Bristol, BS1 3AG.

If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service.

ARE WE COVERED BY THE FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Further information about compensation scheme arrangements is available from the FSCS www.fscs.org.uk or by calling 0800 678 1100.

TREATING CUSTOMERS FAIRLY

We treat clients as we ourselves would wish to be treated in a fair and supportive way with customer service being the cornerstone of our proposition.

CLIENT MONEY?

We do not hold client money. We have an agreement with Zurich Insurance Plc where we act as agent for the Insurer and any money received by us will be treated as if it has been received by Zurich Insurance Plc and the Insurer will therefore bear the risk of any losses