Sidetrack Insurance

Published: | Updated: September 17, 2016

Definition - What does Sidetrack Insurance mean?

Sidetrack insurance is an agreement between a railroad company and the owner of a private property whose land is crossed by a railroad track. This agreement absolves the railroad company of any liability should any damage happen to the private property.

Sidetrack insurance is also sometimes called a "railroad sidetrack agreement" or simply "sidetrack agreement."

Insuranceopedia explains Sidetrack Insurance

Sidetrack insurance is a binding and insured contract between a private property owner and a railroad company that places a track or any structure that is a part of its services within the private property.

When anything untoward happens, like an accident that occurs within the premises where the railroad company has a track, the railroad company's liability insurance covers for the damage. The property owner, meanwhile, is less liable to make claims against the railroad company.

How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.