Riggers Liability Insurance 101: Understanding the Benefits and Uses

Riggers liability insurance is a widely used option to guarantee smooth operations in the construction, transportation, and rigging sectors since these activities often involve enormous risks and can be considered the most complex services in the entire industry. 

Rigging operations require professional backup because of the complexity of cases and the high risks of third-party property damage as a result of rigging work. To choose the right coverage and find additional protection in the form of financial support, consider details such as the size of the cargo, its weight, and other characteristics.

Read on to discover the benefits of riggers liability insurance.

5 Benefits of Riggers Liability Insurance

There are several solid reasons to take advantage of riggers insurance, so let’s discuss each of them in detail.

1. Covers Complex Rigging Operations

A complex process does require protection at every phase of work performance. Even with all safety measures observed, the risk of damage to the cargo being transported is still quite significant. A small mistake can lead to severe consequences and financial losses, which is one of the many reasons to insure rigging-related works with a riggers liability insurance coverage.

Rigging works, as a rule, include the following stages:

  • Provision of equipment for processing materials or performing engineering work
  • Equipment placement in operating position
  • Checking the cargo dimensions
  • Checking for the stability of the mechanism
  • Loading the cargo
  • Cargo transportation (performed under the supervision of specialists)
  • Unloading the cargo
  • Moving heavy equipment within one facility or between construction sites of one enterprise (in this case, the risks increase because the conditions of loading and unloading of large structures change, the distance of their transportation increases, and the probability of an accident increases)
  • Installation of structural elements on foundations, anchors, or prepared sites

Thus, it is essential to pay attention to the technical aspects of quality work execution and financial guarantees to cover every step of the process.

Allied Insurance Brokers has over 25 years of experience in crane, scaffolding, and rigging insurance, assisting hundreds of enterprises and solving the most challenging issues they face. We are ready to help you cover every step you take to ensure a legal and safe experience.

2. Provides a Step-by-Step Acquisition of Reliable Riggers Coverage 

Riggers insurance coverage is applied to construction or transportation operations through rigging from all unforeseen events. Nevertheless, some nuances should be considered when concluding an insurance contract. 

A riggers liability insurance provider should apply a comprehensive systematic approach to risk management by:

  • Efficiently calculating the cost of rigging insurance 
  • Providing a preliminary estimation of the insurance premium
  • Determining the strategy of risk protection tailored to the clients’ specific needs 

At Allied Insurance Brokers, we are ready to defend your interests and conduct full-scale business analysis and a proper establishment of liability limits, which greatly contributes to the proper choice of the insurance coverage amount. 

3. Implies Personal Assistance and Individual Approach 

An individual choice of the amount of insurance coverage can significantly reduce the overall cost of insurance. In addition, the preparation of each insurance contract is controlled by a personal manager, which helps you constantly monitor the insurance coverage status and get all the necessary updates.

Allied Insurance Brokers is ready to provide you with professional advice and assistance in an insured event.

4. Provides Immediate Loss Adjustment Procedure

Rigging insurance policy grants the policyholder the right to receive a payout from the insurance company to cover costs in the shortest possible time. Thus, financial benefits contribute to the uninterrupted continuation of rigging work, eliminating the possibility of additional financial losses due to a temporary work suspension. 

In case of an insured event, rigging insurance premiums can be useful for: 

  • Restoring the rigging or any other equipment if it has been damaged
  • Purchasing new supplies and construction materials
  • Reconstruction of facilities if structural elements have been damaged as a result of an accident
  • Renting special equipment for the period of downtime
  • Salary payment to employees of the rigging team
  • Compensation to injured people due to the fault of the insured

At Allied Insurance Brokers, we strive to find the most comprehensive coverage for riggers to satisfy our clients’ requirements, providing a safe environment to conduct any business.

5. Can Be Combined with General Liability Insurance

Most moving companies are aware of the high chances of occurrence of an insured event and resort to general liability insurance. This is partially the right thing to do, but you should keep in mind that in case of an insured event, such insurance will cover the potential losses and injuries caused by transporting cargo.

Nevertheless, you may still be financially liable for damages because the object of transportation, in most cases, is not covered by general liability insurance. That’s why rigging insurance is a mandatory tool that can be used separately or combined with cargo and general liability insurance. 

It’s Simple to Get Insurance with Allied Insurance Brokers

Allied Insurance Brokers provides top-scale variations of riggers liability insurance. This is accomplished by utilizing our universal portfolio of insurance services. This includes comprehensive programs to protect the interests of businesses and a wide range of insurance products for individuals. 

In addition, we have extensive experience in claims settlement, so our expertise will significantly help you get what your business needs! Contact us today to get started.