Forklift Dealers

Forklift / Industrial Equipment Dealers Insurance

Operating a forklift / industrial equipment dealership involves various complex risks, and having the right insurance coverages is crucial to protect your business from potential financial losses. Here are some important insurance coverages for a forklift dealer:

Commercial Property Insurance:

• • Protects your physical assets, including your dealership premises, office, inventory, and equipment, from perils such as fire, theft, vandalism, and natural disasters.

General Liability Insurance:

1. • Covers third-party bodily injury and property damage claims that may arise on your premises or as a result of your business operations.

Product Liability Insurance

• • Essential for forklift dealerships as it provides coverage in case a forklift you sold causes injury or damage. This is crucial given the nature of the equipment.

Commercial Auto Insurance

1. • If your dealership owns and operates vehicles for business purposes, such as delivery trucks or service vehicles, this insurance covers bodily injury and property damage liability as well as physical damage to the vehicles.

Workers’ Compensation Insurance

1. • Mandatory in many places, workers’ comp provides coverage for medical expenses and lost wages for employees who are injured or become ill while on the job.

Business Interruption Insurance

1. • Helps cover the loss of income and operating expenses if your business is forced to temporarily close due to a covered peril (e.g., fire, natural disaster).

Equipment Breakdown Insurance

1. • Covers the repair or replacement of malfunctioning equipment, including forklifts, due to mechanical breakdowns.

Cyber Liability Insurance

1. • Protects against the financial losses associated with a data breach or cyberattack. Given the increasing reliance on digital systems, this coverage is becoming more important.

Employment Practices Liability Insurance (EPLI)

1. • Protects against claims related to employment issues, such as wrongful termination, discrimination, or harassment.

Commercial Umbrella Insurance

1. • Provides additional liability coverage beyond the limits of your primary liability policies. It’s especially useful if you face a large lawsuit that exceeds the limits of your general liability insurance.

Inland Marine Coverage:

• • Covers the vehicles that are held for sale or being serviced on your premises and in transit.
  • Covers Damage to customers product while it’s in your care, custody & control.
  • Tools: Covers your owned tools and employees’ tools when away from your premises.

Contact Us

It’s critical to work closely with an experienced insurance agent who can assess the specific risks of your equipment dealership and tailor an insurance package that meets your unique needs. Mike at ISE Insurance Services has over 15 years of experience and expertise in protecting businesses just like yours – call us today.