A forklift doesn’t provide much maneuverability when loading heavy cargo. This is why businesses also use telehandlers. Telehandlers can move heavy objects anywhere you desire.
Consider purchasing telehandler insurance. This consists of policies that protect against liability claims, equipment breakdown, and other risks. This article offers information about the cost of premiums, types of various policies and the best companies.Â
General Liability Insurance for Telehandlers
Your telehandler insurance policy will need to cover the liabilities of your business. One of the best liability insurance policies is general liability insurance. This policy will protect your business from third-party property damage and bodily injury claims. Example situations include:
- You accidentally damage customer property while on the job
- You run someone over while driving the telehandler
Telehandler’s general liability coverage offers $1 million-$2 million per occurrence and aggregate limit. Nonetheless, some companies offer up to $5 million if your business profile is good.Â
Professional Liability Insurance for TelehandlersÂ
Your telehandler business can use professional liability coverage to protect against the catastrophic costs of lawsuits related to errors or omissions you make in your business operations. Examples of coverage include:
- A client sues you for failing to deliver a promised service on time
- One of your employees makes a mistake that causes substantial financial loss to a client
The policy typically has a professional liability coverage limit of $1 million.
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
Commercial Property Insurance for Telehandlers
A commercial property policy will protect your premises and any personal business property within against fire, theft, vandalism, lightning, sinkhole collapse, falling objects, riot, and other covered perils.Â
The policy have a typical coverage limit of about $50,000, though much higher limits are available depending on the policy.
| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
| Building coverage limit (minimum) | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $75,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Excluded | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Tools and Equipment Insurance for Telehandlers
A tools and equipment policy protects the portable equipment of your business against damage or destruction. Example situations to use this policy include:
- Equipment you use in your business is damaged in a fire
- Some tools you use to maintain the telehandlers get stolen while at a worksite
- The operator is careless and damaged the boom of your telehandlerÂ
The policy covers tools between $5,000 and $20,000, with higher limits available depending on your insurance policy.
| NEXTÂ | Thimble | Hiscox | The Hartford | |
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Get all the best quotes from leading providers in a click of a button!
Workers Compensation Insurance for Telehandlers Â
A workers’ compensation policy is crucial for any business with employees. This policy will pay benefits to workers who are injured or sick while working. Failure to get workers’ compensation insurance can result in stiff fines and penalties.Â
Will Workers Comp Policies Cover Funeral Costs?
Yes. Workers comp policies generally offer a death benefit if an employee dies while on the job. This will benefit any covered beneficiaries, like the employee’s family. It will also pay burial expenses.Â
Commercial Auto Insurance for Telehandlers
You need commercial auto insurance for driving a telehandler on highways, in case it can’t be transported through a hauler. Commercial auto insurance is composed of many different policies. Common ones are outlined below:
- Auto-liability–Covers the medical treatments of victims if your telehandler causes an accident while running on the road
- Collision–Pays for repairs if your telehandler got damaged due to a road crash
- Comprehensive–Cover repairs if your telehandler got damaged due to fire, theft, vandalism, and other covered perilsÂ
Commercial auto insurance will have liability coverage starting from $100,000 and extending as much as $1 million.
Telehandler Insurance Cost
The average telehandler insurance cost is $65 per month or $780 per year for a $1 million general liability policy. Factors that affect premiums are claims history, business history, policy limits, deductibles, annual revenue, number of employees, and location.Â
| Cost per Month | Cost per Year | Deductible | |
| General liability insurance | $65 | $780 | $0-$500 |
| Professional liability insurance | $76 | $912 | $500-$1,000 |
| Excess liability insurance | $67.00 | $804 | $500-$1,000 |
| Commercial property insurance | $80 | $960 | $1,000-$2,000 |
| Business owner’s policy | $110 | $1,320 | $1,500 |
| Tools and equipment insurance | $71 | $852 | $500-$1,000 |
| Commercial auto insurance | $75 | $900 | $500-$1,000 |
| Workers compensation insurance | $115 | $1,380 | $2,500-$5,000 |
Help others make better decisions
Best Telehandler Insurance Companies
NEXTÂ
Offers excellent options for telehandler businesses that are affordable. The company is great on price and lets you know costs upfront.. NEXT has a B+ Better Business Bureau score. Insurance policy options include tools and equipment, workers comp, general liability, and more.
Average cost: $38 per month
Our rating: 10/10Â
ProsÂ
- Best overall
- Issues an online proof of insurance instantly
- Fastest general liability insurance for telehandlers
- Great customer service and reputation
- Excellent rates
- Outstanding value for money
- Get a 10% discount if you buy two or more policiesÂ
ConsÂ
- Couldn’t find any
The HartfordÂ
It offers business insurance that is offered based on your industry. You will find helpful policies like workers’ compensation, commercial auto, and business owner’s policy. The Harford is a trusted insurer with years of experience and an A- rating from AM Best.
Average cost: $42 per month
Our rating: 10/10Â
ProsÂ
- Benefits for AARP members
- File entirely online
- A longstanding insurer that has 200 years of underwriting expertise
ConsÂ
- Some customers report slower customer service times
CoverWalletÂ
It offers policies from top insurers like Markel, Hiscox, Progressive, and Travelers. Coverwallet specializes in optimizing your coverage to ensure your needs are being met. With CoverWallet, there are no hidden broker fees.Â
Average cost: $45 per month
Our rating: 10/10Â
ProsÂ
- Works with A-rated US insurers
- Choose from 10+ partners
- Machinery repair insurance policy
- Lets you get a quote without being committed to buying a policy
ConsÂ
- Doesn’t underwrite the policies
Get all the best quotes from leading providers in a click of a button!
TivlyÂ
It has a massive selection of insurance partners and policies from which to choose your telehandler insurance coverage.This company has an A rating from the Better Business Bureau. Tivly allows you to connect with them to get quotes and match with top insurers with over 200 different options.Â
Average cost: $49 per month
Our rating: 10/10Â
ProsÂ
- Insurance network with over 200 providers
- Tivly takes the guess-work out of finding insurers through their matching process
- Compare quotes over the phone
ConsÂ
- Does not carry insurance themselves
ThimbleÂ
Thimble offers policy options like cyber insurance, professional liability, general liability, workers’ compensation, and property insurance for your telehandler business. This company allows you to avail general liability as a short-term policy.Â
Average cost: $52 per month
Our rating: 10/10Â
ProsÂ
- Offers short and long-term coverage
- Small companies will appreciate the flexibility in coverage
- Excellent online resources to help inexperienced insurance buyers
ConsÂ
- Customer support options are limited compared to competitors
HiscoxÂ
Hiscox is one of the best choices for your commercial property insurance. You can get covered for events like electronic data, accidental damage, business equipment, and coverage in and out of the office. You can trust Hiscox has an A+ Fitch rating and A rating from AM Best.
Average cost: $59 per month
Our rating: 10/10Â
ProsÂ
- Get a discount when you bundle multiple insurance policies
- Numerous add-ons to base policiesÂ
- Over 100 years of insurance experience
ConsÂ
- No coverage for some policies in Alaska
