Lift Insurance
Lift insurance, also known as elevator insurance or lift liability insurance, protects property owners, building managers, and elevator maintenance companies against liabilities arising from accidents, injuries, or damages related to lifts or elevators.
Add-On
Employer's Liability - Extends coverage to include liabilities for injuries or illnesses suffered by elevator maintenance workers, technicians, or employees working on or near elevators.
Business Interruption - Provides coverage for financial losses resulting from business disruptions caused by elevator repairs, maintenance, or outages.
Equipment Breakdown - Covers repair or replacement costs for elevator equipment, components, or machinery damaged due to mechanical breakdowns, electrical failures, or wear and tear.
Professional Liability - Offers coverage for liabilities arising from errors, omissions, or negligence in elevator maintenance, inspection, or repair services provided by elevator maintenance companies or contractors.
Exclusions
1. Damages or injuries resulting from intentional acts, vandalism, or willful misconduct by the insured or individuals acting on behalf of the insured.
2. Damages or injuries resulting from intentional acts, vandalism, or willful misconduct by the insured or individuals acting on behalf of the insured.
3. Damages or accidents resulting from unauthorized modifications, alterations, or enhancements to the elevator system.
4. Damages or losses resulting from perils not covered under the policy, such as earthquakes, floods, or acts of terrorism, unless specifically endorsed or included in the policy.