In the heavy lifting industry, accuracy and safety are nonnegotiable. Crane and rigging operations are essential to shipping, construction, and logistics, but they carry significant risks. From mechanical failures to load mishaps or on-site injuries, one accident can lead to major financial losses. This is where crane and rigging insurance plays a role in protecting your business.
What is Crane and Rigging Insurance?
Crane and rigging insurance are specialized forms of coverage that are designed to protect companies that lift, move, or transport heavy equipment. Unlike standard contactor policies, this type of insurance is tailored for the unique risks that come with crane and rigging operations.
Key Coverages You’ll Need
General Liability:
General liability coverage will protect your business from third-party injuries or property damage. If a load shift damages a nearby structure or injures someone, general liability helps cover the costs.
Rigger’s Liability:
This type of insurance covers damage to property belonging to others while it’s under your care, custody, and control, such as lifting a client's equipment or materials.
Equipment Coverage:
Cranes and rigging gear are major investments. Having equipment coverage is essential for help with repairs or replacing machinery if, by chance, it gets damaged, stolen, or destroyed.
Workers’ Compensation:
The crane and rigging industry is a high-risk job for employees. Workers’ compensation provides wage replacement and medical benefits in case an employee is injured during the job.
Commercial Auto and Inland Marine:
When it comes to hauling cranes to transporting rigging tools between sites, these polices ensure coverage while your equipment is on the move.
Why does it matter?
Accidents can happen fast and unexpectedly in crane operations. Without having proper coverage, even one small incident can put your business in jeopardy. Having the right insurance plan not only protects your finances but also reassures clients that safety and professionalism come first. Several job sites now require proof of crane and rigging coverage before work can even begin.
Safety and Compliance
Insurance and safety go hand in hand. Regular inspections, employee training, and OSHA compliance all reduce risks and can even help lower your insurance premiums. Having a well-documented safety plan shows insurers that your business takes risk management seriously.
Secure Your Future
Every lift comes with its share of responsibility. Having the right crane and rigging insurance in place, you can focus on the job at hand while your coverage handles the risks. Protect your employees, your equipment, and your business’s reputation, for one small accident can have a major impact.
