What is Specialized Equipment Insurance?
Sheets and more
If you are an operator of specialized equipment, such as cranes or pile drivers, you have specialized insurance needs.
Your equipment may have high value and unique characteristics; you may have to operate your equipment in some difficult environments; and your exposure for what is “on the hook” may be significant. You need your equipment to be properly insured and, as a rigger, you need to be sure your liability here is properly covered.
Our Specialized Equipment Insurance policy can include the following features:
- Coverage for leased and rented equipment
- Full Replacement Cost for equipment up to 7 years old
- Reimbursement for rental charges so a substitute item can be rented after a covered loss
- Options available to provide no depreciation for partial losses
- Coverage for waterborne property
- Cargo coverage for others’ equipment
- Business income for critical equipment
- Riggers’ Liability
- No boom or no weight of load exclusion applies