Sidetrack Insurance
What Does Sidetrack Insurance Mean?
Sidetrack insurance is an agreement between a railroad company and a private property owner whose land is traversed by a railroad track. This agreement absolves the railroad company of liability for any damage that may occur to the private property.
Sidetrack insurance is also referred to as a “railroad sidetrack agreement” or simply a “sidetrack agreement.”
Insuranceopedia Explains Sidetrack Insurance
Sidetrack insurance is a binding, insured contract between a private property owner and a railroad company that installs a track or related structure within the private property as part of its services.
In the event of an incident, such as an accident occurring on the premises where the railroad track is located, the railroad company’s liability insurance covers the damages. Consequently, the property owner has limited grounds to file claims against the railroad company.
