Haulage & Logistics Insurance

Types of haulage and logistics insurance

There are several different types of haulage and logistics insurance cover that you should consider for your business in Bristol. These include:

• Standard van insurance: This type of policy will include contents cover, mileage limits and usage restrictions.
• Goods in transit cover: If you use vehicles to transport goods that are particularly hazardous, dangerous or valuable, this will provide additional coverage if they are damaged, stolen or lost in transit.
• Courier insurance: If you use vehicles to deliver or transport other people’s goods, this will offer protection for high value items and long distance/frequent travelling.
• HGV breakdown insurance: This type of policy will help to get your HGV back up and running as quickly as possible after breaking down.
• Public liability insurance: Provides protection if your business activities kill or injure a member of the public or damage their property.
• Professional indemnity insurance: Provides cover against bad client advice or if your work causes a problem for your client.
• Employers’ liability insurance: This is a legal requirement if you employ any member of staff (including permanent, temporary, contractors or freelancers). The minimum level of protection is £5m, which will cover the cost of compensation claims if they get injured or ill at work.

These are just examples of some of the types of haulage and logistics insurance policies that we look after at Woodfield & Riley. As we know that no two businesses are the same, speak to us today to find out which policies will best meet your needs.

The cost of haulage and logistics insurance

As a haulage and logistics business owner with several vehicles to insure, it may be possible to get a discounted haulage fleet insurance policy as you’re bulk buying from a single supplier. 

In addition, there are also other ways that you can help to reduce the cost of your haulage and logistics commercial insurance premium by reducing your risk:

• Choose electric or hybrid vehicles: These are generally considered safer by insurers as their engines generally have less power than regular vehicles and their CO2 emissions are also lower.
• Drivers: By only having drivers over the age of 25 with clean records, you are likely to pay less. If you can’t avoid having younger drivers, you can help to reduce costs by limiting their mileage and only letting them drive during the day.
• Training: Training courses will help to make your drivers aware of hazards and will help to improve other aspects of driving such as fuel efficiency and driving in bad weather.
• Vehicle maintenance: Ensuring that your vehicle is maintained regularly will ensure it stays in good condition and could reduce costs in the long term. This includes checking tyre pressures, brake pads and oil on a daily basis.
• Excess: By making your drivers pay for their own excess, this could encourage safer driver and make the chance of a claim less likely.
• Overnight security: Reduce the risk of theft or damage to your vehicles by installing CCTV in your car park or consider lockable garages or immobilizers.
• Security on the road: Installing a telematics device (also known as a black box) will assess how safely your drivers are driving, resulting in their premiums being adjusted accordingly. A dashboard camera (dashcam) will also help to provide evidence in the event of an accident and claim.

At Woodfield & Riley we understand that cost is important to your haulage and logistics business, but it is crucial to ensure that you are properly protected in line with the risks your business faces. With that in mind, 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.