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ii Show me a haulier who doesn't want to have a better
Page 48
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relationship with his broker and lower insurance premiums. But how many operators help themselves? If you want to have a better relationship with your broker one key point to always bear in mind is that the statements, given on a proposal form or application, form the basis of the contract between the insurer and the insured. Therefore it's important to stay in close contact with your brokers and use their specialist insurance advice to complement your haulage expertise.
For example, you may have requested "any driver" cover from your broker, and stated on the proposal form that no drivers have motoring convictions. As a resuit your certificates show "any driver" on them. However, you then employ a driver with AC10 and TS40 conviction categories on his licence. You must inform your broker and obtain acceptance for this driver. As the convictions are a material fact, the risk is different from that previously accepted by the insurer. While your driver may consider these to be minor convictions, they can be fairly serious offences and your insurer will need to know. And just for the record, those convictions are: • AC10—Failure to stop and/or give particulars after an accident: • TS40—Failing to stop and comply with the directions of a traffic constable.
Now imagine you get ajob to deliver building materials to a nuclear power station. Do you inform your motor and liability insurers prior to agreeing the contract? You should: it's a highrisk area and you may well have been asked a question on your proposal form concerning power plants. Airports are also considered high-risk areas so check with your broker if you are in any doubt.
If you do operate in high-risk areas, is the third-party property damage limit on your motor insurance and your public liability limit of indemnity high enough? You may only be covered for Lim while the site operator may expect 110m. Get it wrong and the "fall-out" over the claim could be horrendous!
Say you have a comprehensive motor policy—does it automatically get you a replacement truck if yours is damaged or stolen? A standard motor policy won't: it will probably just cover repairs or market value costs following fire or theft total loss. You should make sure your broker can offer a replacement unit and trailer cover as a separate arrangement.
Goods-in-transit is another area where things can go wrong if you're not careful. If you knowingly carry thief-attractive property, such as mobile phones, bottled spirits, tobacco products I am sure you would check your policy and contact your broker to confirm the extent of cover. But what if you carried shoes, or perfume, or aluminium: would you be sure your goods-in-transit policy covers you for theft? Many don't.
When it comes to employers' liability (EL) many hauliers assume they don't need EL cover as the driver they use is self-employed. Wrong! He is deemed an employee and it is a legal requirement that the employer holds EL insurance and displays a certificate. Do you?
Equipment is another issue to consider. How many hauliers have tail-lifts, lorrymounted cranes, fork-lift trucks and the like? It must be many thousands. But did you know that there is a legal requirement for such items to be issued with a statutory inspection report? This is different from maintenance or service insurance; and your broker can arrange this service.
We could go on—"1 don't need a green card, do I?"or "But! assumed that a motor policy covers my trailers atall times."
All of these potential problems can be easily resolved—before they happen. Use a specialist haulage insurance broker; he knows your trade and will have access to all the haulage markets. He will be able to find you the best cover at the best price available.
The additional covers described above may well be included at no cost so get him to give you a full report on your current insurances. This should identity areas where you are exposed. Also, ask him to highlight covers you may not be aware of. After all, you pay your broker well so make sure you get the service you need to run your business.