Drilling Equipment Insurance: Advice When Interviewing a Broker

Drilling Equipment Insurance

Are you eager to meet with your licensed insurance broker? If you want this meeting to be successful, here are some effective steps to conduct an interview and learn more about drilling equipment insurance.

  1. Come up with a complete list of questions

The interview must give you an idea if the licensed broker is knowledgeable in the insurance industry, particularly regarding heavy equipment and machineries. Come up with a complete list of questions you wish to ask, like:

  • Are you licensed to offer these types of services?

  • Are you affiliated with local insurers?

  • How much is your professional fee?

  • Can you show proof from past clients who were satisfied with your services?

  • What is the ideal protection coverage for my drilling equipment?

  • What happens if I decide to change my drilling equipment insurance protection coverage?

  1. Do a role play

If this is the first time you’ll interview a licensed broker, I advise you do a role play in order for you to feel at ease when the actual meeting arrives. If you have a willing family member or friend to act as the broker while you ask the questions, that’s a good start.

  1. Wear something comfortable

The whole interview process may take a minimum of one hour, so make sure you wear something comfortable, but appropriate to demand attention. Check your available clothes and go for an outfit that indicates professionalism and won’t distract person you are interviewing

  1. Don’t be late for the meeting

It’s imperative that you don’t arrive late for the meeting with the broker. If possible it’s better to arrive earlier, so that you have time to relax and refresh your thoughts about the issues concerning the protection coverage for your drilling equipment insurance.

  1. Be professional

This interview will be the determining factor in deciding whether to hire the professional services of the broker or not, so make an effort to exhibit high level of professionalism. Show the broker that you are really serious about getting the best possible drilling equipment insurance, so they have an idea what to offer you.

What other issues can you ask the broker during the meeting?

This initial meeting is an opportunity to communicate other issues bothering you, such as the risks your drilling equipment is exposed to while your operation or when rented to a third party like an independent contractor. You can also discuss matters that can affect your final decision of what protection coverage to include in a drilling equipment insurance policy such as:

  • Theft or vandalism issues

  • Third party liability

  • Natural disasters that could damage the drilling equipment

  • Number of workers operating the unit

  • Money issues if the drilling equipment is purchased via a business loan.

I hope the above steps will help you succeed with your first meeting and interview with a prospective broker. If you discover they are the right partner for your drilling equipment insurance purchase, don’t hesitate to make the decision to hire this professional now.

Earthmoving Insurance HQ are a team of friendly brokers who will find the best Drilling Equipment Insurance to suit your needs and budget. Why not call us today to find out what we can do for you on 1300 815 344 or you can go online and request a quote.