First and foremost, if you are serious about saving money, find a broker that specialises in transport insurance and one that makes an effort to get to know you and your business well.
Hands up if you have you ever lowered the value of something to less than it is actually worth, just to save a couple of hundred dollars on your insurance premium?
I know, it’s a silly question to be asking someone in the transport game as this would most likely be a daily occurrence for you lot.
Vicarious liability is a legal term of which all employers and business owners should be very aware of and your vicarious liability should always be taken into consideration when making any business decision that involves having others conduct an activity on your or your business’ behalf.
Harvest time is without doubt one of the busiest times of the year for many transport operators and when we say transport operator, there are actually two types of transport operators.
I would love a dollar for every time we hear these old excuses: ‘I told them the brakes were dodgy’ or ‘they tried to beat me and cut in front of me when their lane was ending’ or ‘they tried to bag me up on the inside on a roundabout’.
Far too many get caught up in the excitement of going into business for themselves that they miss some critical steps that can make or break a business.
If you happen to have been one of the unfortunates who have had to make a claim on their commercial truck insurance policy in the last couple of years, it is more than likely you would have suffered from a certain degree of heightened anxiety after you had received the verdict from your insurer’s claims manager or their loss adjuster (assessor).
All industries experience cycles of expansion and contraction, insurance is no different. Although no two cycles are exactly the same, insurance industry cycles typically last between three to 10 years and are known as a hard market and a soft market.
You ask what being a professional has got to do with insurance? In one word, everything.