Reduce Risk: Insure Your Compact Equipment

by New member LeeDubya on ‎02-09-2016 03:08 PM

blog-border-image.jpgInsuring your compact equipment can help you manage risk, prepare for the unexpected and simply enhance peace of mind. However, it is important for equipment owners to research different insurance plan options to find one that best suits their specific needs.


There are several factors to consider when deciding on your compact equipment insurance coverage, including:

  • Insuring your machine through the equipment manufacturer versus an independent insurance group. Check to see if the manufacturer’s insurance plan covers repairs at their dealer locations with genuine manufacturer parts. Also look into the manufacturer’s total loss coverage. For total losses, some insurers will cover the greatest value of the following:
    1. The payoff value of your loan, up to the amount of your insurance.
    2. The actual cash value of your insured equipment.
    3. The cost to replace your machine with one of like kind and quality.
  • Research which types of insurance coverage plans the manufacturer or independent insurance group offer. Find a provider that offers both physical damage and equipment protection plans. Physical damage plans are for risk associated to incidents such as fire, collision, vandalism and theft. Risk of theft particularly pertains to compact equipment because of the size of the units. Equipment protection plans for new and used machines provide protection for mechanical breakdowns beyond the expiration of your original factory warranty period and help you manage major repair costs.
  • Consider bundling insurance plans. With some manufacturers, a benefit of insuring your compact equipment through them is the ability to bundle plans, such as physical damage and equipment protection. Often, you can add financing and customer service agreements in the bundle, including inspections, oil changes, and regular maintenance.
  • Quality and promptness of service through your insurance plan. If your equipment manufacturer has a comprehensive dealer network, another benefit of getting insurance coverage through them is quick access to repair technicians and machine parts. This can reduce machine downtime and lost revenue in the event of an equipment breakdown or damage.

All things considered, it is critical to insure your compact equipment. While insurance coverage certainly factors into the total cost of ownership, it can also significantly reduce that cost throughout the life of your machine.


For more information on insurance options for your compact equipment, visit us online or contact your local Cat® dealer .


We’d like to hear more about your experiences in researching insurance options for your compact equipment.

  • Have you considered the total cost of owning and operating a machine?
  • Have you ever researched coverage? What types of coverage do you look for when considering insurance plans for your compact equipment?
  • Have you purchased independent insurance group coverage plans for your compact equipment? If so, how satisfied were you with the coverage?
  • Have you purchased the insurance coverage plans offered by your equipment manufacturer? If so, how satisfied were you with the coverage?
  • Are there additional aspects or features you would like to see added to compact equipment insurance coverage plans?

by George Ward G E Ward Contracting Ltd
on ‎02-24-2016 10:37 AM

I can appreciate the emails and offers to join.


Since purchasing my first CAT piece, a CAT 430 F backhoe loader, brand new off the lot on December 24th, 2013, I have had nothing but incredible trouble with CAT.

I currently own 12 pieces of gear now, I can honestly say that the CAT resources folks and warranty people have provided the worst service I have ever encountered. The regional sales manager in our area, Mr. Dino Bruni is a great guy, very friendly, but thats where it stops here in Thunder Bay. Once you purchase a machine and you are out the door, you better pray that you do not encounter any problems or require warranty or product support. You are simply on your own.


I have recently just purchased a new 2016 F 350 Diesel Dually Lariat Ultimate from Southern Toronto. The service and relationship appears to be second to none. It looks like I will purchase away from home, province or country, yet once again. I am looking to purchase another excavator, backhoe and tracked skid steer. I will most likely choose John Deere or Case. If the CAT insuance programs are any indication or representation of how my and other purchasers like myself are treated here in Thunder Bay, we will simply be turning to other manufacturers.  


That being said, I appreciate your time in sending myself your offers, online deals, etc, but at this time I have to respectfully decline.


Thank you again,

George Ward

Ward Contracting

by Contributor idigcat
on ‎02-24-2016 04:10 PM

Mr. Ward, We are sorry to hear about your experience. We are looking into the concerns that you expressed and we will be contacting you soon.


Jennie Tylec

Caterpillar Inc.


by Saarav
on ‎08-01-2017 08:11 AM

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  • I’m an Attachments Product Application & Sales Support Specialist for Caterpillar in North America. I have been with Caterpillar for five years including roles in the field as a dealer sales support representative and marketing support in the skid steer and small wheel loader product groups. I graduated from Iowa State University with degrees in Agricultural Business and Economics. Our goal is to provide a full portfolio of attachments for our customers to be more productive and versatile with their machines.
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  • I am the National Association Manager for Caterpillar and have responsibility for customer associations and partnerships in multiple industries for Caterpillar. I have 12 years of experience at Caterpillar, and have spent most of those years in the field with dealers and customers around North America. I have always had a passion for equipment and find myself fortunate to be able to work with dealers and customers almost every day.
  • I am a Product Application Specialist with 16 years of experience in the industry. As a Building Construction Products Global Trainer, I focus on training dealers and customers on machines, attachments and applications as it relates to the construction, agriculture and landscaping segments.
  • I have been with Caterpillar for more than eight years, working in various roles including a materials engineer, a filters product manager and my current position as a parts consultant. My job allows me the opportunity to work with Cat dealers and customers providing insight on how the use of quality filters and fluids results in better equipment performance and lower owning and operating costs.
  • I am a marketing and sales support professional for Caterpillar. In this role, I work with our marketing and customer service teams to support or dealers and customers, concentrating on our Small Wheel Loader, Skid Steer Loader, Mini Excavator and Dozer product groups. The exchange of ideas, information and opinions about equipment and how it’s used in various industries on forums such as this blog helps me fulfill my role at Caterpillar to the best of my ability.
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  • I am a Product and Application Specialist with over 35 years experience at Caterpillar. I focus on helping you to determine the best Cat machines, work tool attachments, and services for you to use in the building and general construction, landscaping, specialty trades, and agricultural industries.
  • I am a Senior Regional Insurance Marketing Manager with 16 years’ experience at Caterpillar Financial Insurance Services. I have the opportunity to work with 18 North American dealers providing risk management products and services that helps the Caterpillar Enterprise ( Caterpillar, Dealers and Customers) manage their business risk. Caterpillar Financial Insurance Services offers Extended Protection Plans for machines and engines, Physical Damage Insurance, Inventory Protection Plans, Dealer Property and Casualty, Risk Management, Marine Transit Insurance and Dealer Bonds.
  • Jeff Brown is a marketing professional for Caterpillar Skid Steer, Multi Terrain and Compact Track Loaders. Over Jeff's 12 years in the industry, he has visited with and studied the needs of customers across landscaping, construction, and agriculture segments. Delivering innovative solutions that solve customer's problems is Jeff's main focus.
  • I am a North American Product and Application Specialist for Caterpillar. In this role, I have had the opportunity to represent Caterpillar at various trade shows and train customers on new Small Wheel Loader content. I graduated from Purdue University in 2001 with a Mechanical Engineering degree and have spent the past 15 years with Caterpillar in various engineering roles. Growing up in the Mid-West, I have always loved the cold and the unique activities winter enables. Unfortunately, I had to give those up when I moved to North Carolina. I don't care what people say, you never get used to a hot climate.
  • I am a Filter and Fluid Marketing Consultant with over 14 years experience working at Caterpillar. My focus is to ensure customers understand the importance of using superior filtration and lubrication products in their equipment.
  • I am a Sales Support Manager with over nine years of experience in a variety of roles with Caterpillar Financial Services Corporation. Throughout my career, I have had the opportunity to gain experience in matching financial products and tailoring funding strategies to the specific needs of customers. This includes more than three years as a Territory Manager in Seattle partnered with N C Machinery, an authorized Cat dealer covering the states of Washington and Alaska.

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