Riggers liability insurance Defined
Riggers Responsibility Insurance covers a contractor’s liability for moving someone else’s property or equipment, such as when a crane is used to hoist air conditioners onto a roof. A normal commercial general liability (CGL) policy’s exclusion for “personal property of others in your care, custody, or control” prevents it from covering this danger.
By adding a riggers liability endorsement to the CGL insurance that changes or eliminates the “care, custody, or control” exclusion, riggers liability coverage may be implemented. (Take note that coverage is often offered in such policy for property of others for which the insured may be responsible if the contractor is an insured under a builders risk insurance on the project. However, the builders risk insurance could have a deductible and might not cover loss of use.)
Equipment that is on the hook, being hoisted, or being installed that is under the rigger’s control but does not belong to them is protected by riggers liability insurance. Imagine raising an air conditioner to a higher storey of a building to further convey this. You drop the equipment as a result of an unexpected mishap.
If someone is wounded or the AC unit smashes a window as a consequence of the fall, your ordinary general liability coverage will likely cover the injuries or damage. But if you don’t also have riggers liability insurance, general liability insurance won’t cover damage to the AC unit itself, leaving you personally accountable. This might cost you anything from a few hundred to tens of thousands of dollars or more, depending on the equipment’s worth.
Do Your Insureds Need Insurance to Cover Riggers Liability?
It is important to add riggers liability insurance if your Crane, Rigging & Specialized Transportation insureds lift items or materials that do not belong to them.
In contrast, installation floater coverage would be a better choice for your client if they do other contractual duties in addition to rigging on the site and the equipment they are transporting is a component of that project.
Construction-related machinery and equipment, such plumbing equipment, are covered by installation floater insurance. They may or might not own these things. Riggers responsibility, on the other hand, is limited to the lifting, transporting, or installation of property that does not belong to the insured.
Riggers liability insurance benefits
- It protects the equipment owner and your insured
When your client has riggers liability insurance, they can rest easy knowing that if the equipment is broken, neither they nor the owner of the items the insured lifts would be held responsible.
- It avoids protracted and expensive downtimes
Materials that are essential to a project are often lifted by riggers. If anything goes wrong and neither the insured party nor the owner of the equipment has sufficient insurance, a single event may result in the project being put on hold until the owner can collect enough money to repair or replace the item.
- It Can Be Modified to Meet Your Client’s Needs
The year as a whole or a single project may be covered by riggers liability insurance. The option to add it as an endorsement to general liability and inland marine policies, as well as standalone coverage, is also available.
As an alternative, you may choose to provide your customer a more complete package, like our multi-line insurance solution for Crane, Rigging, & Specialized Transportation. It relies on our more than 25 years of industry expertise and precisely addresses the unique requirements of crane operators. The program covers the following forms of coverage in addition to riggers liability:
Auto excess Inland marine Workers’ compensation
- It Aids in Increasing Client Business
Jobs that your insured bid on favor riggers with sufficient coverage. Because crane liability claims may be expensive and time-consuming, employers should be on the lookout for insurance. Your insured may increase business and win more contracts by buying in policies that cover other people’s property.
With Ascinsure Specialty Risk, you can safeguard both yourself and your company (An RPS Signature Programs Company)
Riggers liability should be included in your insureds’ insurance portfolio if they work in the lifting and transportation of other people’s property. Inadequate insurance may overnight make your customers responsible for thousands of dollars’ worth of destroyed property.
Fortunately, our multi-line Crane, Rigging & Specialized Transportation insurance package can provide you the riggers liability protection you need as well as the full liability protection you require.