Most people who operate businesses within the Waste Sector would be forgiven for thinking that Insurance is simply another major overhead and one that they could do without. But the reality as we all know is that no one in business can ‘do’ without insurance. The UK is becoming ever more litigious and this is not something that the Waste sector has escaped. If anything, particularly where vehicles are concerned, the Waste Sector is an easy target for the compensation culture.
As an Insurance Broker who specialises in placing insurance for Waste & Recycling Businesses, several of our clients could tell you the stories where someone shows up at their yard with a brick in their hand, claiming that it has fallen off the back of their Lorry and damaged a vehicle which was following it.
How do you defend against that? No doubt they will claim to have a witness who saw it happen and then it’s game over. Perhaps in the old days, through gritted teeth, you might have agreed a small sum of money to repair their apparent dent and everyone would all move on – perhaps, dare I say it, it was even a genuine claim! Incidents like this are very easy for the apparent victim to deal with now - it is unlikely that they will even need to come and dirty their shoes by visiting your yard. The first you will know about it is when the letter arrives through your door from a Legal Practice, (whose name you will recognise if you have the misfortune to watch daytime TV), which informs you that a brick was witnessed falling off your lorry and damaging their client’s vehicle, leaving them with a dent in their bonnet and a repair bill. But it won’t end there of course. It will be essential that they hire a vehicle whilst theirs is repaired and of course, the whole incident left their client in a distressed state and they have been struggling to sleep. And, obviously, the Solicitor isn’t working for nothing… their bill will be expected at the end of all this. But still, all you need to do is let them know who your insurer is and they will deal with them directly. Simple! And yes, it is simple, your Insurance Company will deal with the matter in an effort to keep costs down once reported and that will be the last you will hear about it, isn’t it?
But sadly, it isn’t the last you will hear of it. Whether you have one vehicle or a fleet of 100 vehicles, claims will always have a knock-on effect when your policy falls due for renewal and you can be certain that you will see an increase in your premium.
So, what is the point of this article? It’s all been very negative so far, right?! I mentioned that we specialise in placing insurance for the Waste & Recycling Industry. So, it goes without saying that we have access to the entire market and we cast the net wider than most – which means that we really can find the right insurance for you at the right premium. However, what really sets us apart is that we would prefer to actually work ‘with’ you. By understanding you, we can provide more detailed advice about how you can make minor changes to your risk to not just save you money now, but to offer long term savings. We have succeeded in this with many clients and in many cases – their premiums are lower now than they were 3 or 4 years ago.
So, talk ‘Rubbish’ to us and let’s see what we can do for you.