If the work of your business involves transporting people or items from A to B, it is vital that you have the appropriate transportation insurance in place. No matter how much care has been taken before or during the transportation process, there is always a chance that something could go wrong, which is why it is important to have adequate insurance cover in place.
A robust risk management and insurance programme can help your transportation business to respond quickly, maintain continuity and manage your reputation.
Find out how Business Line Insurance can help you to manage any potential risks and protect your staff, customers, buildings and equipment within a comprehensive insurance solution.
Types of insurance cover your transportation business may require
Transportation insurance can cover things that could potentially go wrong during transit, ranging from a variety of instances including theft, fire, accidents beyond control, and other similar perils. With every type of transportation, be it travelling on land, air, and sea, there is a spectrum of risks that require appropriate cover to ensure that your business can continue to meet client obligations and maintain your hard won reputation whilst maintaining the financial security of the business and you employees.
Insurance programmes for transportation businesses would typically include a combination of the following cover:
- Fleet or vehicle insurance: Providing tailored cover for all the vehicles in your fleet, reflecting usage and typical goods or cargo
- Goods in transit insurance: Provides cover for loss or damage to goods that you are transporting
- Public liability insurance: Tradesmen are likely to work near other people and their property. Public liability insurance for self-employed tradesman will help to ensure that you’re covered against potential claims, offering protection if your business activities kill or injure a third party (non-employee) or damage their property.
- Employers’ liability insurance: This is a compulsory type of insurance for employers, regardless of whether the member of staff is permanent, temporary, volunteer, contractor or freelancer. The minimum level of protection is £5m, which will cover the cost of compensation claims if staff get injured or fall ill as a result of carrying out their required duties.
- Professional indemnity insurance: If your work causes a problem for your client or you have given negligent advice, this will ensure that you are covered if your client makes a claim against you. Some clients also require construction businesses to have a certain level of cover in place before they start work on a project, so it is worth checking this before you start work.
- Personal accident insurance: This type of cover will provide financial protection in the event of accidental injury or death as part of your work.
- Business interruption insurance – Provides cover for financial losses if your business can’t operate from its premises as normal as a result of a fire, major theft or a flood.
- Commercial buildings & contents insurance – Provides cover for your business premises in the event of flooding, a fire or theft.
- Credit risk insurance – Provides cover in the event that your clients don’t pay their invoices.
- Business assets and equipment insurance: Provides cover for the assets that your business needs to operate, including furniture and computers.
These are just examples of some of the types of transportation insurance policies that we look after at Business Line Insurance.
What insurance do I need for my transportation business?
If you are responsible for the running of a transportation business of any kind you should consider taking out a tailored insurance programme. The wide variety of risks to both the staff and customers create the need for an insurance solution that provides comprehensive protection.
We know that no two transportation businesses are the same, so speak to us today to find out which policies will best meet your needs.
The cost of transportation insurance
The combined premiums that you will pay for your transportation business insurance programme depends on the level of cover that you need and the breadth of risk that your business is exposed to.
It is crucial to ensure that you are properly protected in the event of an incident occurring. With that in mind, at Business Line Insurance we will take the time to understand the specific needs of your business and recommend the amount of cover that is best suited to you.
Importantly, we work tirelessly on your behalf to present your business to potential insurers as accurately as possible so that premiums are completely appropriate to your risk exposure.
Insuring your transportation business
Business Line Insurance is well placed to provide you with the professional support to review your current insurance programme and assess where you might be at risk from underinsurance, or even paying for excessive cover.
We understand that transportation businesses face unique risks and challenges on a day-to-day basis, and that you need bespoke insurance that works for you and gives you the level of cover that is appropriate to the risks that you face.
Give your business the protection that it deserves today – if you want to find out how much peace of mind costs, contact Glenn Bowles by calling: 020 3058 4309.