Category: Crane Insurance

Two Common Misconceptions in Crane Insurance

Perhaps one of the most repeated misconceptions in regards to crane insurance is the notion that insurance companies will pay losses based on the stated values submitted by the policyholder. However, in order to comprehensively explain what I mean by that, we first have to understand the difference between “actual cash value,” or ACV, and “replacement cost value,” or RCV.

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How Crane Recovery Can Reduce Your Crane Insurance Premiums

One way to help mitigate the loss exposure is through the crane accident recovery process. When a crane turns over and the boom is lying across a jobsite, or worse, across someone’s backyard, most owners first reaction is to get the site cleaned up as quickly as possible. Crane company owners get worried about bad press and people talking. General contractors start screaming…

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