When you operate a construction site and have a need for rigging insurance to cover your biggest (and often most expensive, and most critical) equipment, it can be difficult to know what kind of coverage is available. The reason is that most insurance companies don’t have products specifically designed for this type of coverage. Here are a few of the things you should look for when shopping for insurance for your rigging.
First, it’s a good idea to get a general liability policy. This is true for every business, but be sure that your policy specifically addresses and covers some of the things that are unique to the rigging and heavy construction industry so you’re not paying monthly premiums for a policy that will not even pay out should you need it, because it’s missing coverage.
Second, when you’re buying rigging insurance, find out if you can get coverage for mobile equipment. Most companies assets are contained within their business site, but with construction your most expensive and valuable assets are away at the sites where you’re doing the work. Be sure the policy extends coverage to this mobile equipment as well as the assets that are stationary at your business site.
Finally, look at the specifics for the workers compensation policies and commercial auto. These are offered in most commercial insurance, but be sure they have specifics that extend coverage for the unique situations your workers and vehicles will be in as part of a construction crew.
Getting coverage does not need to be a hassle, as long as you’re working with a company that understands the rigging, crane, and heavy construction industries. For more information about rigging insurance, visit The Rubin Group.