Price My Insurance has made it easier then ever to get a business insurance quote for your mining business. Our team find insurance policies that cover your business not only comprehensively but also at the best price.
Business Insurance For The Mining Industry
When you work in the mining industry, the risks you face every day are arguably much more prominent and hazardous than those in other industries. This is why you need a comprehensive insurance policy that will cover you for all business activities. Unfortunately, many insurance companies – particularly big name brands – are extremely hesitant to service the mining industry because of the degree of risk involved. Because of this, you will more than likely need to take out your insurance via a broker who will connect you with specialist providers, and as a result, your premiums will likely be higher.
What Insurance Do I Need For Mining In Australia?
Although acquiring mining insurance may sound like a hassle, it doesn’t have to be. The key is to find an insurance broker who has worked with clients in mining in the past and has experience with the industry. In order to get the best possible cover, you will need to ensure that you disclose all business activity details to your broker. If you do not, when you attempt to claim it will be denied.
Insurance Requirements For Mining
When it comes to insurance for the mining industry, your premiums will depend on the type of mining work you do. Do you handle explosives? Is your mine under ground or above ground? Does your work involve the actual mining operation? Another factor is your position within the company. For example, if you are a project manager your premiums will be higher because you are responsible for a group of workers and if one of them were injured or died, you would be the one facing legal action. While you may assume that Workers Compensation would cover you in a situation like this, Workers Comp will most likely take you to court after the payout to recover their expenses.