Haulage Insurance: Why do I need an Insurance Broker?

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The haulage industry can a complicated area for businesses to navigate, especially if doing so without the expert help and advice of an experienced insurance broker. With the ramifications of Brexit, a shortage of drivers on the roads, and a pressure to lower carbon emissions without offering practical solutions for operators, we understand that there are more factors affecting the industry now than before.

Another factor which concerns many haulage operators is of course, insurance, and the cost of insurance. The past two years have seen a steady increase in haulage insurance costs and a decrease in the number of insurers. Therefore, getting your haulage insurance sorted, for the right price, is a priority for many businesses.

What factors are impacting the haulage industry now?

In their annual report, the Road Haulage Association (RHA) has brought attention to many more issues’ haulage operators are facing in 2020. Some of these include:

  • Road congestion and the increase of tolls – whilst the implementation of tolls generally reduces traffic on motorways for drivers, the recent further increases to toll costs makes it harder for operators to continue using these solutions.
  • Driver shortage – with a reduction of workers coming from the EU and the average age of HGV drivers being 55, there are not enough young drivers coming through to replace the drivers which are retiring.
  • Skills shortage – there is a strong push for a reform in the Apprenticeship Levy as the skills taught in the programme do not match up to the skills required.

For further information on these issues, alongside the impact of Brexit, you can read the full report here.

How can Exe Insurance help you?

Here at Exe Insurance, we work with a range of insurers with your best interest at heart. We understand the market, the types of covers available, but more importantly, we understand your business and your needs. With a vast knowledge and skillset, we are well equipped to find the best insurance cover for you and your business.

It’s important you seek professional advice to make sure you do not fall into any of the common pitfalls when arranging your insurance. Insurance is often a big expense for businesses, so it is important to make sure it is done right. We provide a full service here at Exe Insurance and can help you with all areas linked to your insurance, such as training, post-accident activities, and your risk management processes.

What factors will impact your haulage insurance premiums?

At Exe Insurance, we always have your best interest in mind. It is important you are aware of the many factors which could have an impact on your premiums. These include:

  • The types of vehicles you use – double decker transporters are higher risk vehicles.
  • The types of goods in transit – you will need to declare if you are moving hazardous goods.
  • The drivers you employ – insurers will want to see training and competency checks.
  • Risks when loading and unloading goods – the appropriate health and safety measures should be in place for your employees to prevent injuries

If you are considering instructing an insurance broker, or would just like some more information about how Exe Insurance might be able to help you and your business with haulage insurance, get in touch on 01392 797 733 or email sales@exe-insurance.co.uk.

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