The Maguire Agency can provide for all the insurance and risk management needs of our structural moving clients. A basic policy consists of the following coverages (subject to the terms and conditions of the policy):
General Liability
The commercial general liability policy provides the insurance protection needed to pay damages for bodily injury or property damages for which the insured is legally responsible. General liability policies have a standard exclusion for damage to items in your care custody or control, hence there is no coverage for damage incurred to property which you are moving or raising (items in your care custody or control).
Automobile Liability
The liability coverage of the commercial automobile policy provides protection against legal liability arising out of the ownership, maintenance or use of any insured automobile. The insuring agreement agrees to pay damages for bodily injury or property damage for which the insured is legally responsible because of an automobile accident resulting from the ownership, maintenance, or use of any covered auto.
Structural Movers Cargo Insurance
The cargo insurance provided by Travelers through the Maguire Agency is a unique policy designed for contractors who engage in structural moving, lifting, and raising of all sorts. The policy will pay for direct physical loss or damage to covered property. Covered property includes buildings, houses, or structures, including the contents that you own, or that are property of others in your care custody and control during the process of the move. Coverage begins with your first act required to prepare for the move, and ends on the completion of the last act required to finish the move, or 90 days, whichever comes first. (please refer to the policy for complete terms and conditions).
Contractors Equipment Coverage
The property covered on the contractors equipment floater might range from simple hand tools to power packs to large unified jacking systems to hydraulic dollies. Virtually any type of mobile equipment or tool can be insured. The coverage is for direct physical loss to the equipment.
Property Coverage
Property Insurance is any type of insurance that indemnifies an insured party who suffers a financial loss because property has been damaged or destroyed. Property is considered to be any item that has a value. Property can be classified as real property or personal property. Real property is land and the attachments to the land, such as buildings. Personal Property is all property that is not real property. The Building and Personal Property coverage form is the form used to insure almost all types of commercial property
Umbrella Liability
Umbrella liability insurance provides excess liability coverage over several of the primary liability policies (General Liability, Automobile Liability). Umbrella policies have two main functions: (1) To provide additional limits above the each occurrence limit of the insured’s primary policies; and (2) To take the place of primary insurance when primary aggregate limits are reduced or exhausted.
Workers Compensation
This coverage agreement obligates the insurer to pay all compensation and other benefits required of the insured by the workers compensation law or occupational disease law of any state listed in the policy. The coverage applies to bodily injury by accident and by disease that occur to an employee while in the course and scope of employment. The coverage includes no dollar limit for the benefits provided since any applicable limits would be those established within the law. Benefits are paid to the employee without regard to fault.
Hiring a contractor who does not carry the above basic coverage’s can be very dangerous for you or for a potential client. Check out our website at http://www.structuralmoversins.com/ under the free resources section for an article about the perils of doing business with an uninsured contractor.