Working in the mining industry has its own unique risks involved. That is why we have tailored a specific insurance for the needs of a number of occupations working within the mining industry. Read on to learn more about mining insurance and see if it’s the right fit for you.
What is mining insurance?
As a mining contractor you will not be covered under your employees insurance and will need to obtain your own. That’s where mining contractors insurance comes in handy. Mining contractors insurance includes a range of policies which are designed to suit contractors working across the mining sector.
The two main policies relating to mining contractors are public liability insurance and professional indemnity insurance. The wording of the policies in your mining contractors insurance package are targeted to the risks associated with the mining industry. Mining contractors insurance can be tailored to suit your specific needs and your particular risk exposures. Just some of the occupations in the mining industry that can be covered include:
- Air Leg Miner
- Auto Electrician
- Boilermaker/Welder
- Dewatering Contractors
- Dragline Operator
- Drilling Contractors
- Electrical Contractor (including QLD)
- General Plant/Machinery Maintenance
- Mechanic/Diesel Fitter
- Mine Relining Services
- Mineral Exploration (including water drilling)
- Mining Contractor
- Mobile Plant Operators
- Operation of Continuous Miner
- Project Manager
- Rock Bolters
- Shaft Sinkers
- Tenement Liability
Why do you need mining insurance?
Because working in the mining industry is a demanding industry to work in and it requires specific skills, it is important that you are covered under the correct insurances. Whether it’s an accident onsite which causes damage to property or injury to a third party or an incident which results in you being unable to work due to injury, you need to be aware of the risk you face on site so you have sufficient insurance cover. Although employees will be covered by their employer’s insurance, contractors are generally required to arrange their own insurance cover. Insurance will also generally be a requirement of your contract before you go on site.
For tradies who work in the mining industry, it’s essential that you have a risk management plan in place and organising a targeted mining insurance package means that you’re protecting yourself financially when things go wrong.
If you work as a contractor in the mining sector, at the very least you’ll require public liability insurance – you’ll find it near impossible to obtain employment in the industry without this cover. For most contractors, you’ll also need additional insurance to protect against additional risk exposures. Speak with an insurance broker at All Trades Cover today to help assess your areas of risk.
When to make a claim for mining insurance?
You would make a claim for mining insurance if you had an accident onsite which causes damage to property or injury to a third party or an incident which results in you being unable to work due to injury. Contact the friendly team at All Trades Cover to make a claim or ask any questions if you are unsure. You can also check out these tips for tradies to find out how you can make a claim easier for yourself.
What are you covered for with mining insurance?
Our mining contractors insurance offers limits of $10 and $20 million for public and products liability insurance. We provide cover for businesses with a turnover of up to $10 million and our cover includes statutory liability insurance of $500,000. Our cover can also provide optional professional indemnity insurance with limits of $2, $5 and $10 million. You can also opt for cover relating to tools of the trade and commercial legal expenses.
We also offer a separate professional indemnity insurance led policy for the following occupations:
- Foreman
- Supervisors
- Geologists
- Engineers/Consultants
- ERZ Controller
- Mine Deputy
- Safety Inspector/Auditor
Insurance cover can also be provided for the following occupations pending approval from the insurer:
- Blasting and/or Shot Firing Contractor
- Working with Explosives
- Off-shore Consultants
- Sub-Sea Contracts
Every public liability insurance policy is different and it’s important to check the policy or ask your insurance broker to make sure the policy is right for you. Some common scenarios that your policy is unlikely to cover are deliberate damage or injury, unlawful activity, and personal injury or property damage to yourself or employees.
How much does mining insurance cost?
The cost of mining insurance will vary depending on your risk factors and your unique policy that you choose. At All Trades Cover, our experienced brokers can provide you with professional advice relating to your insurance so we can help find the right cover for you.
For your mining contractors insurance quote, speak with the team at All Trades Cover today on 1300 826 850.
