There are many different factors and policies that are considered in crane insurance. There’s insuring the value of the crane itself, as well as liability. Liability can be general liability while the crane is actually operating or auto liability while it’s on the road.
While the operator is using the crane, general liability covers any damages that may occur in the form of property damage or bodily injury.
However, keep in mind it does not cover the product you are actually rigging. To cover the item you are lifting, an inland marine policy is needed. This is also sometimes referred to as rigging liability or rigger’s liability.
Plated vehicles that operate on the road also need auto liability. Make sure the vehicle is scheduled on your auto policy.
Excess liability or an umbrella policy is also required in many contracts. These policies provide additional limits over the general liability policy and often the auto liability as well. Be sure to have the right coverage in place to avoid breach of contract.
If you have any questions on your crane insurance coverage, be sure to contact a broker with experience and expertise in the industry.