CHES Special Risk rolls out mobile equipment insurance

CHES Special Risk rolls out mobile equipment insurance | Insurance Business Canada

Commercial Solutions

CHES Special Risk rolls out mobile equipment insurance

Offering to safeguard trucks and trailers

Commercial Solutions

By
Terry Gangcuangco

Managing general agent CHES Special Risk has introduced a comprehensive insurance package tailored specifically to protect mobile equipment, trucks, and trailers.

According to the MGA, the package includes mobile equipment insurance, commercial general liability, and office contents insurance, providing extensive coverage against physical damage.

The new proposition from CHES offers robust protection against unforeseen incidents such as accidents or natural disasters, ensuring essential business assets are safeguarded.

Andre Prasad, senior underwriter at CHES, stated: “Protecting the core operational assets of businesses, especially in the trucking and trailer sectors, is critical.

“Our insurance solutions provide peace of mind, knowing that in the event of damage, measures are in place to mitigate financial loss and ensure business continuity.”

Key extensions in the package include continuing rental or lease expenses, protection and prevention of property, debris removal, rental expenses, and ice or muskeg cover.

Providing examples of where coverage may apply, CHES said: “A trucking company faces a major collision resulting in extensive trailer damage. Mobile equipment insurance covers repair costs, while the debris removal extension handles the clean-up, allowing the company to resume operations promptly.

“A severe ice storm impacts a fleet of trucks at a depot, causing significant damage. The ice or muskeg cover extension provides financial relief for repairs, while the continuing rental or lease expense extension ensures lease payments do not add to the burden during recovery.

“A critical piece of mobile equipment breaks down and needs temporary replacement. The rental expenses extension covers the cost of renting replacement equipment, ensuring business continuity without additional out-of-pocket expenses.”

For further details, CHES said its underwriting team can be reached at [email protected].

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