As a rigger, your job is inherently risky. They work at great heights and hoist objects weighing several tons, often in extreme weather conditions. Despite their many years of experience and extensive safety training, the potential for falls, accidents, and damage to property and equipment remains a daily threat. To learn more about this policy type, why you need it, and the benefits of riggers liability insurance, keep reading.

To protect your insureds and their livelihoods, carrying adequate insurance is a must…and that means the inclusion of riggers liability.

What Is Riggers Liability Insurance?

Riggers liability insurance protects equipment that is under the rigger’s control but does not belong to them and is either on the hook, being lifted, or being installed. To better illustrate this, imagine that you are lifting an air conditioning unit to the upper floor of a building. Suddenly, an accident occurs and causes you to drop the equipment. 

Your standard general liability policy will likely cover injuries or damage that result from the fall, such as if someone gets hurt or the AC unit breaks a window. However, general liability insurance will not cover damage to the AC unit itself, leaving you personally liable if you do not also carry riggers liability insurance. Depending on the value of the equipment, this may cost you anywhere from a few hundred to thousands of dollars and more.

Do Your Insureds Need Riggers Liability Insurance?

If your Crane, Rigging, & Specialized Transportation insureds lift property or materials that do not belong to them, it is advisable to include riggers liability insurance. 

Alternatively, if your client fulfills other contracting roles on the job in addition to rigging and the equipment they are moving is part of that project, installation floater coverage may be a better option for them. 

Installation floater insurance covers machinery and equipment that are part of an entire construction process or phase, such as plumbing. These items may or may not be theirs. In contrast, riggers liability is specific to lifting, moving, or installing property that does not belong to the insured.

Benefits of Riggers Liability Insurance

1. It Protects Your Insured and the Owner of the Equipment

When your client carries riggers liability coverage, both the insured and the owner of the materials the insured lifts can have peace of mind knowing that they will not have to bear the cost if the equipment gets damaged.

2. It Prevents Long and Costly Downtimes

Riggers often lift materials that are mission-critical to a project. If something goes wrong and neither the insured nor the equipment’s owner have adequate coverage, a single incident can end up halting the job until the owner scrapes together enough capital to repair or replace the item. 

3. It Is Flexible and Adapts to Your Client’s Needs

Riggers liability insurance can cover a specific project or for the whole year. It is also available as standalone coverage or as an endorsement to general liability and inland marine policies. 

Alternatively, you can opt for a more comprehensive package for your client, such as our Crane, Rigging, & Specialized Transportation multi-line insurance solution. It caters specifically to the complex needs of crane operators and builds on our 25+ years of experience in the industry. The program includes riggers liability as well as the following coverage types:

• Auto
• Excess
• Inland marine
• Workers comp
• General liability

4. It Helps Attract More Business for your Client

Jobs your insured bid on prefer riggers who can show adequate coverage. Crane liability lawsuits can be costly and time-consuming, so insurance is definitely something jobs watch out for. By investing in policies that protect the property of others, your insured can attract more business and win more projects.

Protect Yourself and Your Business with Ascinsure Specialty Risk (An RPS Signature Programs Company)

If you insure clients who are in the business of lifting and moving others’ property, riggers liability should be a part of their insurance portfolio. Inadequate coverage can leave your clients liable for hundreds of thousands of dollars in damaged equipment overnight. 

Luckily, our multi-line Crane, Rigging, & Specialized Transportation insurance solution can provide you with all the liability protection you need, including riggers liability.