What insurance cover does my Transport business need?
As a transport operator you may be exposed to greater risks than the average business. You may have many vehicles, carrying many different types of loads to many different locations. Having the right insurance cover is crucial to the long term survival of your business. Your business will definately need Commercial Motor Vehicle Insurance to protect your vehicles in the event of an accident or theft. You will also require Public Liability Insurance to cover your business activities and the threat of legal action Australia wide. You must also consider who is responsible for the loss or damage to any load you are carrying and protect any exposure to your business by holding Transit Insurance.
You should also consider whether you need Management Liability Insurance. This protects you against financial threats due to the day to day running of your business eg. breach of contract, workplace health and safety fines, legal action for wrongful dismissal or harrasment of an employee.
Risk Management for my Transport business?
Every transport business is exposed to risks, with many of these risks able to be managed and reduced through driver training and other risk management processes and procedures. However, no matter how thorough you are and how well you execute your risk management plan – accidents still happen! And when they do it’s important that you have the right insurance cover in place to protect your business. So part of your overall risk management plan should be to consider the insurance cover you need to protect your business. At Northern Insurance Solutions we take the time to get to know your business, how it works and most importantly – where it is most exposed. We can then create an insurance package designed to meet the individual needs of your business. Contact us now to arrange a meeting.