Crane Insurance: Factors to Consider When Determining the Level of Protection Coverage

Crane Insurance

Are you involved in many construction projects? If you possess a number of top performing cranes and other heavy equipment units then consider getting the right level of protection coverage for a crane insurance policy. Remember, being in the construction business exposes you to bigger risks, especially when using different types of cranes. Here are some of the external factors that will help you determine the extent of coverage needed while carrying out your construction projects.

  • Working environment

One of the major factors to consider when choosing the right protection coverage is the working environment you face while using the crane. The exact location where you are expected undertake various construction activities must be carefully assessed based on critical issues such as whether the place is prone to flooding or other natural disasters beyond your control. If the working environment is unstable you or anyone operating the crane may be placed in danger, or there is the possibility of property damage. Enquire about a type of protection coverage focused on risks involving flooding or natural disasters.

  • Equipment is only rented

If, on a regular basis, you rent the crane for your construction projects you will need crane rental insurance. Be sure to include the rental reimbursement and the manuscript coverage designed for third party contractors.

  • General liability

This protection covers all aspects related to the use or activity involving the crane and should cover the following:

  • Sudden or accidental pollution.

  • Advertising and personal liability (in the event your company is sued for any false promotions)

  • Loss of rental

The crane is among your biggest investments and this equipment must be covered with crane rental insurance, particularly regarding loss of rental and in case of loss of earnings, riggers and other forms of liability.

Additional tips and warnings:

Whether you use the crane for your construction projects or rent it out to independent contractors for their various building needs, it’s vital to get the right protection coverage for your crane insurance policy. Taking this urgent need for granted could bring about more problems that may involve loss of income or worse, a lawsuit filed against you. You can avoid, or at least reduce the likelihood of financial losses if you do it right in the first place by having a crane insurance policy. Don’t delay, stay protected while you have ownership of this heavy equipment; talk to a credible insurer who specialises in heavy equipment and machinery now. A comprehensive crane insurance policy is sure to give you the peace of mind to freely and responsibly do business.

I do hope this has helped you assess the daily risks that you and your crane are exposed. Go over the above types of protection coverage and find out which best suits you and your preferred budget.

Earthmoving Insurance HQ are brokers that are experienced in getting the best insurance for heavy machinery. Call our brokers for your Crane Insurance and the will provide you with advice on the insurances you need and obligation free quotes. Call 1300 815 344 or request a quote online.