Do you have Insurance for Construction Equipment Damaged at a Project Site?

Are you a contractor that utilizes large equipment such as a crane for purposes of your construction operations?  If so, is the equipment owned or leased from an equipment supplier?  Assuming you utilize such equipment, have you considered appropriate insurance to protect your interests in the event that equipment got damaged? If not, you should as that equipment, as you know, is expensive!

Please review this article that discusses insurance for equipment. This case discusses how a crane damaged on a project site during construction was not covered by a builder’s risk policy since the policy excludes coverage for equipment that will NOT become a permanent part of the structure.  This, however, does not mean that other insurance does not apply to cover the equipment.  

Insurance is an important part of risk management.  If you own or lease equipment, then making sure you have the right insurance to insure against foreseen risks is very important.  

Please contact David Adelstein at dadelstein@gmail.com or (954) 361-4720 if you have questions or would like more information regarding this article. You can follow David Adelstein on Twitter @DavidAdelstein1.

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