Machine insurance?

Djstorm100 · Nov 6, 2019

I'm in the market for a Hass VF2ss, pretty much had my mind on one as my first "Real" vmc. Until I friend planted a little seed, Doosan DNM4500s. Been talking with both reps and one of the reps mention machine insurance that covers machines in case you crash? I've never head of this and question how well they come through once they take your money.

I'll probably get railed for this but I'm self taught, bought a Tormach as I knew I would crash the machine. Have a few products I make and do a little job shop work. But I'm at the point where I can pretty much buy machine out right.

D Nelson · Nov 6, 2019

Did you see Haas has vf2s on sale 30percent off right now
Don

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Djstorm100 · Nov 6, 2019

D Nelson said:
Did you see Haas has vf2s on sale 30percent off right now
Don

Sent from my iPhone using Tapatalk Pro

It's only on these https://www.haascnc.com/Community/E...0001023884&deliveryName=DM2738#40_PERCENT_OFF

The VF2ss they do have is 12% off.

G00 Proto · Nov 6, 2019

I've never purchased it, but a friend of mine has it. He was able to get a new spindle and a bunch of other fixes when his machine went down. Not sure on how much it cost, but it certainly saved his bacon.

m98custom1212 · Nov 7, 2019

Its pretty common on insurance polices some call it "equipment down policy"

g-coder05 · Nov 7, 2019

Safeco, For me it's hands down the best I've had. I crashed my Cincinnati Arrow 1000 so hard it snapped the X axis screw. Not only did Safeco pay for all the repairs they payed loss of generated daily revenue based on my shop rate. Even after that my premium didn't go up.

BWS JAZE · Nov 7, 2019

How much are these policies monthly? I have a new haas and am a newbie, would love the extra security.

Scruffy887 · Nov 7, 2019

I have it for my newest 520 HP 9000k RPM machine. 10% deductible. Yearly policy but well worth it. Things get a bit dicey at 11,880 sf/min. Got to have your game on.

macds · Nov 7, 2019

Scruffy887 said:
I have it for my newest 520 HP 9000k RPM machine. 10% deductible. Yearly policy but well worth it. Things get a bit dicey at 11,880 sf/min. Got to have your game on.View attachment 269542

217 kph out of 520hp at 9000K, what, in a quarter mile?
Those are rookie numbers bud...

Very cool car btw.
I might know something about porsche gear, would be interesting to talk to you.

But Im curious how you get an "oops" policy on that?

Scruffy887 · Nov 8, 2019

macds said:
217 kph out of 520hp at 9000K, what, in a quarter mile?
Those are rookie numbers bud...

Very cool car btw.
I might know something about porsche gear, would be interesting to talk to you.

But Im curious how you get an "oops" policy on that?

Apology for going OT.
About 139 mph at Lime Rock Park road course in CT, "street" tires, MPSC2s. Then commit to turn one. No drag race 1/4 mile stuff, I like to turn the wheel.
Opentrack.com is who I use for an unlimited track days yearly policy. They also offer policies per event, and a 2-3 day long weekend event is not a lot more than a single day event. Ontrack and Lockton are also in that business.
I had a good talk with one of the wheels of Ontrack at LRP last summer. Most of the checks they write are for totaled cars. Cars like mine are very expensive to repair and it does not take much to total one.

Eric U · Nov 8, 2019

I’ve got “crash” coverage from Sentry. Had to use it once for a probe I G0’d into my vise.

No idea how much it costs per month. I’m also pretty sure any insurance company could quote it for you. Probably would need a commercial policy to get this coverage.

saleemadri · Jul 16, 2021

Djstorm100 said:
I'm in the market for a Hass VF2ss, pretty much had my mind on one as my first "Real" vmc. Until I friend planted a little seed, Doosan DNM4500s. Been talking with both reps and one of the reps mention machine insurance that covers machines in case you crash? I've never head of this and question how well they come through once they take your money.

I'll probably get railed for this but I'm self taught, bought a Tormach as I knew I would crash the machine. Have a few products I make and do a little job shop work. But I'm at the point where I can pretty much buy machine out right.

did you got any insurances covered for this? i am also looking for machine liability insurance and see how its goes

Ox · Jul 16, 2021

My wore out 1977 6.6 would hit 11,880.

------------------------

Think Snow Eh!
Ox

redphilip21 · Feb 24, 2022

Djstorm100 said:
I'm in the market for a Hass VF2ss, pretty much had my mind on one as my first "Real" vmc. Until I friend planted a little seed, Doosan DNM4500s. Been talking with both reps and one of the reps mention machine insurance that covers machines in case you crash? I've never head of this and question how well they come through once they take your money.

I'll probably get railed for this but I'm self taught, bought a Tormach as I knew I would crash the machine. Have a few products I make and do a little job shop work. But I'm at the point where I can pretty much buy machine out right.

Yeah the insurance companies usually don't want to pay that's why they make so much money. I have machinery breakdown insurance on my machines it cost a bit but keeps you covered and saves you when you cannot keep working

DouglasJRizzo · Feb 25, 2022

Djstorm100 said:
I'm in the market for a Hass VF2ss, pretty much had my mind on one as my first "Real" vmc. Until I friend planted a little seed, Doosan DNM4500s. Been talking with both reps and one of the reps mention machine insurance that covers machines in case you crash? I've never head of this and question how well they come through once they take your money.

The DNM is a great machine. Super value. Let me know if you need anything, I used to work for Doosan.

Marvel · Feb 25, 2022

I have an insurance policy on both my machines with a deductible of $500, it covers EVERYTHING. For both my machines its about $1100 annually.

I did not shop around, I purchased one of my machines from a used dealer and they referred me to the following, and I was able to add my machine that I had purchased a year prior as well.

Agent Desk
Sheri Stefanopoulos
[email protected]
877-878-0380 office
877-837-7102 fax

cosmos_275 · Feb 25, 2022

My insurance is about half my rent. It does cover machine damage from operator error. Probably needs to be a commercial policy as mentioned already. I've had two claims with Sentry, so my rate gets jacked up every year. The claims were super easy, just emailed them police report and they cut a check in a couple weeks. My most recent one was theft. First one was bumped spindle, may have been fine, but I had it replaced, they just needed invoice from repair. I consider it a loan. My rate got jacked 50/mo, but for a 12k payout on the theft, that's a decent loan.. and I can stop paying if I want. I could drop down to just liability, but having the property coverage is nice.

BugRobotics · Mar 1, 2022

I've been trying to find insurance for a newer machine. Sentry turned me down. A few others just state they don't write policies for my line of work. I'm gonna try the agent Marvel posted.

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