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Mining insurance helps keep your business forging ahead so you can keep digging.

Mining Insurance - Mining Dump Trucks Transporting Coal for Processing From a Large Mine at Dusk

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Whatever you mine for, your operations and business need mining insurance to safeguard against unique risks.

What is mining insurance?

Mining insurance is a policy designed specifically for mining operations to protect your business from the unique hazards it faces. Typically, these policies combine a variety of liability and property and casualty coverages to cover each aspect of your business. There are a variety of mining businesses that can make use of this protection, including:

  • Coal Mines
  • Precious Metal and Gem Mines
  • Quarries
  • Sand and Gravel Diggers
  • Surface and Underground Mines

Coverage for your expensive equipment.

Back in the day, mining relied on shovels, pickaxes, and mules, but mining operations have come a long way since then. Now your business relies on your expensive, specialized mining equipment for your extractions. So what happens when that equipment breaks or gets damaged? Systems breakdown insurance as part of your mining insurance policy can help cover the costs of repairing or replacing broken equipment. Also, some policies may even help cover potential lost revenue while your business is down for repairs.

Mining insurance for a dangerous business.

While mining has evolved as an industry, one thing that hasn’t changed is how dangerous it can be. For example, from the heavy machinery to the explosives to the unpredictability of Mother Nature, there are risks for injury everywhere on the job. You’ll want to make sure your employees are covered with workers’ compensation insurance. This coverage helps cover your employees’ medical expenses, helping them through a difficult time while they heal and also protecting your business from potentially disastrous lawsuits.

Coverage for the environmental impact.

For the past several decades, the mining industry has been gaining attention and scrutiny for its environmental impact. What happens if your business is responsible for the pollution of a nearby water system? What if your business causes a landslide nearby? Environmental insurance as part of your mining insurance coverage can help protect your business in the event of accidental pollution or other environmental damage. Not only will it help cover the costs associated with the clean-up, but it can also be a good public relations tool to show you want to minimize the environmental impact of your mining operations.

What if your operation works overseas?

It’s not uncommon for mining operations to work in other countries where certain resources may be more plentiful than others. In that case, you’ll want to invest in international business insurance for your mining insurance policy. This coverage can help fill in the gaps of your general domestic policies—for instance, liability issues with your staff overseas could be covered. However, you can also get international business insurance that’s more tailored to your needs. For example, some policies offer protection from kidnap, ransom, and extortion, as well as more mundane things like unfavorable exchange rate changes.

General coverages for your mining business.

Just like any other business, there are a few basic coverages that should be considered as part of your mining insurance plan. General liability insurance is important to cover a variety of risks your business could face. For instance, if someone were to wander into your mine and injure themselves, you could be held liable. Just like with your high-tech mining equipment, your mining business most likely uses computers to store data and important company information. Cyber liability insurance can protect your business in the event of a cyber-attack or data breach.

Looking for mining insurance to help cover your mining business? Contact us to learn more.

Find Your Coverage

We’re here to help you explore your coverage options.

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Contact Deacon & Deacon Insurance & Benefits Consulting

Our Charleston, WV Office

1210 Kanawha Boulevard East
Charleston, WV 25301

 304-720-5641
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 304-720-5642 fax

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