When it comes to how modern construction is done, cranes are among the most useful tools. Considering earth's space is becoming limited and urban populations are growing, cities are seeing a rise in vertical growth like never before. Skyscrapers are no longer a thing of the future, as they have become a part of normal American life. And so, cranes are absolutely one of the most essential tools for construction these days, because of this change. Using a crane and having insurance for them is what we are going to talk about during this article.
Although you may not know this, most construction companies do not actually own their own cranes, but they do lease them out from other companies. Depending on the work the construction company is doing, these leases can last anywhere from a few days to a few months. The crane company insurance may also provide an operator for the crane, if the construction company does not already have a qualified person.
The must first obtain an operating permit from the state, prior to any crane contractor starting work and in order to apply for this, the person must have over 1000 hours on the job and be in prime physical health. View http://www.encyclopedia.com/topic/insurance.aspx for the history of insurance.
Insurance for their crane and crane operator is important for the construction company to get, along with this. Insurance companies that do offer crane insurance will provide coverage for the following.
For starters, general liability will be covered and that covers any fault by the construction company while operating the crane. General liability protects the insured from liabilities imposed by lawsuits and similar claims made by any third party.
The second form of coverage you will get with crane insurance is for property and equipment and this will protect against any physical or mechanical damage that the crane might accrue, as well as covering the cost of replacement. This form of coverage includes such things as boom overload, over the road liability, loss or rents, loss of income, custody, control and attachments coverage.
Workers compensation is the third form of coverage you will receive following general liability and property and equipment coverage. The health and well-being of workers at a construction site in which a crane is being used is what workers compensation will cover. The crane insurance will cover the cost of the treatment, in the instance that a crane is the cause of someone being injured. To add to this, the insurance company will also pay out compensation in the event of a death of a worker.
For events like earthquakes, hurricanes and floods, the last piece of coverage you will get is excess and umbrella liability.