If you’re a wholesaler, a manufacturer or a similar business that sends goods by post, truck, sea, or air you need to insure your goods in case they are damaged or lost.
You may pay a haulage company to move your goods from A –B, however they are unlikely to insure the goods for their full value.
In the event of a loss, without Good in Transit / Cargo insurance you could be left with a large bill to replace the damaged stock. A Cargo insurance policy will pay to replace your lost or damaged stock.
A haulage contractor has limited liability regarding his goods in transit, the majority of haulage contactors will trade on specific conditions of haulage, e.g. RHA 2020 and CMR conditions.
This limits their liability for the goods they are carrying, however, a haulage contractor would still have some liability for their goods in the event of damage or loss caused to them.
Although some policies may allow you to insure on an ‘all risks’ basis, this can often be expensive and not necessarily required.
A Hauliers Liability policy will provide cover for this as well as public & employers’ liability.
In the event of a loss, hauliers’ liability will pay for damages or losses to goods in transit, subject to your sums insured
The policy can also be extended to include public liability to cover any injury or damage caused to third parties, whilst also extending to cover employers’ liability for injuries to staff.
With over 10 years of experience, East Yorkshire Insurance Brokers are your local independent expert for all your business Insurance requirements. Based in Hull, East Yorkshire Insurance Brokers believes in offering a friendly and personal service for a wide range of commercial insurance products for small to medium-sized businesses.
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Whether you’re looking for landlord insurance, shop insurance, contractors’ insurance, fleet insurance or professional indemnity insurance we believe in giving you confidence in your insurance cover by using our experience and knowledge to build long-lasting relationships.