A forklift doesn’t provide much maneuverability when loading heavy cargo. This is why businesses also use telehandlers. Telehandlers can move heavy objects up and down, forward and backward, or side to side.Â
Consider purchasing telehandler insurance. This consists of policies that protect against liability claims, equipment breakdown, and other risks. Read this guide to know how each work, the cost of premiums, and the best companies.Â
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
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
Products and completed operations–Takes care of costs if the completed or delivered service of your telehandler caused bodily injuries or property damage to third parties
Cyber liability–Covers any costs that arise from a data breach or cyber attack on your telehandler business
Your telehandler's general liability coverage will have a $1 million-$2 million per occurrence and aggregate limit. Nonetheless, some companies offer up to $5 million if your business profile is good.Â
| 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 |
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
Prior acts coverage–Protects your telehandler business from liabilities that may have occurred before your current professional liability policy
Excess liability–An excess liability policy will help you extend the coverage limit of your professional liability insurance
Your policy typically has a professional liability coverage limit of $1 million.
Yes. Sometimes a client may ask that a telehandler have a professional liability insurance policy to ensure your business has the resources to cover potential lawsuits. One reason is that your client will want to make sure you can compensate their losses if you cannot fulfill the terms of a business contract.
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| 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 |
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
Business interruption insurance–Helps you compensate for lost income and other costs associated with a physical event interrupting business operations
Equipment breakdown–This policy will protect your telehandler equipment from internal breakdowns due to mechanical failure, electronic failure, or power surges
Commercial property insurance will have a typical coverage limit of about $50,000, though much higher limits are available depending on the policy.
Commercial property insurance will insure personal and business assets within a radius of your premises. This will include items like electronics, chairs, desks, and equipment. It will also cover specific outdoor properties like trees, shrubs, and fences.
