What Is Riggers Liability Insurance?

Please Share

For contractors, the landscape is always changing. Many General Contractors now use insurance consultants and transaction certificates to verify insurance coverage and support. When the administration of third party insurance comes into play, you start to hear new terms like "Rigger's Liability." To know more you can search for riggers liability coverage policy via https://www.newheightsinsurance.com/crane-boom-trucks/.

Image Source Google

What Rigger's Liability?

Rigger insurance is a specific form of insurance coverage for contractors. It is insurance that covers liability arising from the movement contractor fixed assets owned by others. A common example of this would be the company to take up the air conditioning unit by crane to the top of a building.

As stated above, this is liability insurance that covers damage to other people's property, but no property damage to the equipment itself is covered.

If you are in the business of moving equipment and property of others, the obligation rigger must be a component of your business insurance portfolio. This can be done in support of the general commercial liability insurance policy or written as stand-alone coverage.

Some insurance companies choose to use installation floater to cover rigging contractor. An installation floater sometimes broad enough to cover both types of risk (but must make sure that you let your broker know you do both). If the contractor is solely rigging the contractor, then the installation will not float the proper coverage. A licensed insurance agent can help you determine the type of rigging the right coverage for your business.

 

Leave a Reply