If your company uses forklifts and other lift equipment in your daily work, there are some things you should know about forklift insurance for your equipment and employees. While your employees should be certified to operate lifting equipment, including forklifts, accidents still happen, and you need to protect your company from damages that may result from a forklift accident.
Do I need forklift insurance?
Unlike insurance for a motor vehicle, most states do not require you to have insurance on your lift equipment that covers damages or injuries involving the machine. However, this doesn’t mean that you don’t need any kind of forklift insurance at all. Forklifts are heavy industrial machines and while your forklift operators may be trained in how to safely use this equipment, you still need insurance to cover your equipment and your employees.
Will my general liability insurance cover forklifts?
Your general liability insurance policy covers your company from liability for damages resulting from an accident while you are on the job. This type of insurance might be sufficient to cover your forklift operators and equipment, but this may not always be the case. Make sure to let your insurance agent know that you operate lift equipment and ask if your company’s liability insurance policy is sufficient to cover accidents involving forklift equipment . You also need to ask if your operators are covered by the policy as well as equipment.
Can I add forklift insurance to my existing insurance policy?
If your forklift drivers and equipment are not covered by your general liability insurance, you may be able to add to your existing policy so that your company, your forklift operators and your equipment are insured against damages that result from an accident. If you have recently purchased new or used forklift equipment, you should talk to your insurance agent right away to add this equipment and the employees that operate it to your insurance policy.
Can I purchase separate forklift insurance?
While forklift insurance is not specifically required by law in many states, it may be a good idea to purchase a policy that covers your lift equipment and employees like an auto insurance policy would. This type of forklift insurance will provide your company and your forklift operators with peace of mind and allow them to do their jobs without worrying about what would happen if they were in an accident. You may even be able to get discounts if you buy a forklift insurance policy from the same company that provides your company’s other insurance. If your employees will be driving forklifts on the street to and from job sites, it is an especially good idea to buy forklift insurance just in case there is an accident involving another motor vehicle.
While you may have licensed and trained forklift operators who work safely, buying forklift insurance is still a good idea. In the event of a forklift accident, you want to know that your products, equipment and employees will all be taken care of. Providing insurance for your equipment and employees will ensure that you are working in a safe and responsible manner, which will help your company grow.