Do I Need Insurance as a Haulage Subcontractor?
As a haulage subcontractor, you’re responsible for the transportation of goods for a third party and so there’s a lot of responsibility on your hands. Not only to provide a good service to the client but to also ensure the goods get there safely, regardless of what those goods might be. If you’re wondering about ‘do I need insurance as a haulage subcontractor?’, then it’s good to know that you’re going to need your fair share of coverage to protect yourselves and the people you work for.
What Type of Insurance Do You Need as a Haulage Subcontractor?
There are many different insurance options out there for haulage subcontractors, but you should look into what coverage you can get to protect yourself as much as possible. The type of insurances to consider would be:
Public Liability Insurance
This type of insurance is perhaps the most common and protects against claims for injury, as well injury to third parties or their property too.
Goods in Transit
When you’re carrying goods in transit, having this type of insurance is obvious. It can be helpful to have insurance on the goods you’re taking from one place to another. That way, should anything go wrong, you’re covered from any wrongdoing or having to pay out of your own pocket for damage caused.
Employer’s Liability Insurance
If you’re responsible for others, then this type of insurance can be helpful to protect against claims of employee illness or injury that has occurred in the employee’s line of work.
There’s a wealth of other insurances you could add onto your insurance package, so it’s useful to explore what options are out there and which ones are best for your needs as a haulage subcontractor.
Why Do Haulage Subcontractors Need Insurance?
Like with any position or job, there comes risks and potential problems that can occur, which is why insurance can be useful to have. Here are a few reasons why haulage subcontractors require insurance.
Protects Against Cargo Damage
If you accidentally damage any of the cargo you’re responsible for taking to and from a location, then your insurance will help to cover the cost of repairs or replacements.
Helpful for Third-Party Liability
When your vehicle is involved in an accident that causes injury to others, this is a time where you’ll need insurance. Public liability and third-party liability insurance is crucial to have, should this ever happen to you.
Helps With Legal Defence Costs
Insurance can help to provide any legal support and coverage of legal fees if you’re being sued personally following an accident – even if you’re found to be at fault.
You’ll Meet Your Client Requirements
With insurance in place, you’re going to show clients that you can demonstrate the right insurance coverage to secure yourself and the client in question.
If you need help or guidance with any insurance cover options, Transmode’s experts are here to help. Visit our Subcontractor page where you can explore our resources and find out more how you can start a haulage contract with Transmode.