Insurance on a Sawmill?

[BWoody]

I am planning on purchasing a saw mill in the $5,000-$8,000 range.  I would hate to buy the sawmill, get it home and set it up only to have a tree fall on it that night.  There are not any dead trees near where I would set the mill up; but healthy trees fall too.  Just wondering if anyone carries insurance on their mill for accidents like this and also for theft.  If you do could you give me a ballpark figure for a policy.  Any information would be greatly appreciated.  Thanks.

[Bruno of NH]

I got mine put on my homeowner policy .

[pine]

I would certainly insure it if you can't self insure which most can't.
There used to be a sponsor that was an agent but think it went away.  If you can't put it on your homeowners (check with your agent) then buy an inland marine policy to cover it. 
Don't worry why and where the name "inland marine" came from but that is what they call it.

The cost on my policy is $1 per $100 of coverage

[Sixacresand]

 

 There used to be a Forum sponsor who were underwriters for the company in the photo below.  I had a my mill insured by them.

[WV Sawmiller]

BWoody,

   If your home owners won't cover it be sure to ask for an Inland Marine policy. I checked and thought the price for the coverage for my mill was a little high so I chose to just self insure my mill. I do carry liability insurance because the risk there was too high and the cost for me is about $650/year which I considered reasonable for the amount of coverage.

[longtime lurker]

The greatest risk to a sawmill is fire. That might change a bit being a portable mill, what with risk associated with roading and theft. But if its a fixed installation fire is the one you need to worry about: it's also the coverage that costs most because insurers are well aware of the degree of risk.

The solution to overhanging trees is to feed the sawmill.  ;D

[Brucer]

Here in BC my mill is considered to be a trailer and has to be licensed if I travel with it. The insurance is pretty cheap and I can get extra coverage for fire and theft (even when it's parked). I also have sawmill specific insurance which gives my liability coverage as well as theft.

As for trees falling on your mill, do you have trees falling frequently where you live? If not, you probably don't need to worry.

[WLC]

As has already been said, either under your homeowners or an inland marine policy.  I have my Woodmizer LT28 on a stand alone inland marine policy.  Costs me about $25 per month.

[Brad_bb]

Mine is under my farm policy, so hard to figure what it adds.

[WV Sawmiller]

As has already been said, either under your homeowners or an inland marine policy.  I have my Woodmizer LT28 on a stand alone inland marine policy.  Costs me about $25 per month.

   Sounds like a real good deal to me. I think an inland marine policy for about 25K-30K coverage was going to cost me $600 or so per year. I thought that was high for relatively little coverage, not excessive risk and also because for the same money I could get 2 million liability. I had to have the liability but not the inland marine to operate.