Q. I have been offered some work carrying machinery for a local engineering company. I will need to buy a flatbed trailer with a crane, but apart from insuring the extra trailer, will my insurances be affected?
A. Your goods in transit policy is now covering you just for RHA conditions, which is limited to £1300 per tonne – which in itself may be too low for the machinery you are about to carry. In addition, your current policy does not include the loading and unloading risks, so you will need to insure this under an All Risks section of cover, which will almost certainly increase your premium. You must also advise your liability insurers of this change of goods you will be carrying, and of course your vehicle insurers. Finally, now that you will be owning two trailers, you need to check what cover is being offered for the trailer unattached when not in use, as your policy may otherwise only insure the trailer when it is attached.
Q. I own a plot of land where I park my vehicles and I’ve been asked by two friends if they can park their HGVs there as well. Assuming the operator’s licenses are approved, will there be any insurance issues that I need to sort out?
A. You will need Property Owners Liability insurance, which will cover you in case any damage occurred to the vehicles your ‘tenants’ parked on your land, due to, say, a boundary fence collapsing or a roof tile falling if you own any buildings on the land. Property Owners Liability is thankfully usually very inexpensive, and can be arranged as either a separate policy or added to your buildings or business policy.