The Insurance Broker Limited
The Insurance Broker is a specialist in providing insurance for goods in transit, whether across your town, when you are moving home, or across the world. We can compare the whole insurance market for you rather than just a handful of insurance companies as some brokers do. You can also get transit insurance online from us if you are moving home and simply need cover for the move.
9 Tips to Keep Your Office Secure and Protected. Protection is the number one concern for business owners.
From single floors in shared units to whole properties, these premises need to be made as secure as possible to ensure the protection of your assets and the livelihoods of your staff. While smaller businesses are more vulnerable to theft, even larger organisations can be damaged significantly by things like theft, fires, and other events. As well as containing various valuable items – from computers to cash – the loss of important documents or damage to certain systems can be devastating.
Client information, financial records and other important administration filings, when lost, can set a company back massively. The Difference Between Freight Insurance and Cargo Insurance: What you need to know. If your business is engaged in shipping goods abroad, you need to be very much aware that there is a difference between cargo insurance and freight insurance.
Many people assume that the two things are the same, but nothing could be further from the truth. When you ship goods abroad, either by sea or by air, they are not automatically insured against loss or damage. In order to be fully covered, your shipment needs to have both forms of insurance. Freight insurance in the UK alone will not cover the value of your goods. You need to have cargo insurance for your goods because freight insurance only covers the freight forwarder. The rules for the sale of goods around the world, including shippers’ liabilities and responsibilities, are governed by the International Commercial Terms of 2020, commonly called incoterms®. EXW (Ex Works): Under this incoterm, the buyer bears the risk and insurance costs from the export customs clearance stage through to receipt of goods. Some Important Things To Consider When Moving Overseas.
If you are going to move overseas it can be an exciting experience, but it can also be stressful, and requires a considerable amount of planning.
If you don’t get everything just right, it can cost you money. Even if you do get everything just right it is going to cost money because the process is not cheap. The very first thing to do is to take a serious look at all of the belongings that you have and decide which of them to leave behind, give to friends, give to charity, sell with a garage sale, or take to the tip. The simple fact is that the less that you take, the less it is going to cost you. The next thing to do is to decide on the method of transport. Things You Need To Consider When Moving House. The government has made it clear that, despite the lockdown restrictions, you can still move home if you need to, but the actual removal process needs to be done safely and may be different from usual.
Many removal companies are remaining open for business because the government and the British Association of Removers have provided guidelines for them to ensure safe working during Covid-19. If you need to move soon, you should start to plan early. This is because removal companies are actually experiencing a very high demand at present because of the stamp duty holiday which ends in March. Cargo Insurance Or Carrier Liability Insurance: What’s The Difference? When you are shipping goods from one point to another – whether by road, rail, sea, or air – you will need to have them insured in case they are lost or damaged on the way.
In practice, claims for freight insurance are quite rare, but that doesn’t mean that you don’t need it or that they don’t occur. There are two types of insurance, one of which is carrier liability, while the other is cargo insurance. In some cases, one might have both. An Important Thing To Consider When You Are Moving Home. If you are going to move home – which is allowed, even in this pandemic – one of the most important things to consider, and one which many people fail to consider, is personal goods in transit insurance.
Now you may believe that your removal company will have insurance, and they certainly will, but it may be nowhere near enough to cover loss or damage to your personal items. You have to recognise that the insurance that they carry and that they have to pay for is to cover them, not you. Think about it this way: you may own an original oil painting that is worth many thousands of pounds. Your removal company may take every care with it, wrapping it in bubble wrap, and the driver and his assistant being extremely careful about how it is loaded on to the removal van. However, suppose that the removal van is involved in a horrific accident on the motorway that is not the driver’s fault and, as a result, your painting is ruined. Erm, no. Why Do I Need An Insurance Broker? When you are looking for insurance – whether it is car insurance, home insurance, life insurance, personal injury insurance, and more – these days it is very tempting to go online to one of the comparison sites.
Let’s face it, there are several of them and they all claim to find you the right insurance for your needs at the lowest possible price. Not only that, they are free, and you can get a quote in a few minutes. What You Need To Know About Insurance As A Courier. Online shopping has increased massively over the last few months.
We had already heard about the High Street getting into trouble and shops being closed and boarded up before the pandemic. This was because more people were shopping online for a number of reasons. Not the least of these was that instead of driving to a shopping centre, finding somewhere to park, walking from shop to shop, not finding what you wanted so having to go to another shopping centre, finally finding what you wanted then having to battle through the traffic to get home, you could simply sit indoors with laptop or mobile and go from shop to shop sitting comfortably on your sofa. Once you have placed your order, many sites – such as Amazon – would have a courier deliver your goods the next day. It’s really not surprising that Arcadia, Debenhams, Edinburgh Woollen Mill, and more, are going bust. Transit Insurance Cover – Do I Need it?
Goods in transit insurance covers items from theft, loss or damage as they’re being transported by vehicle from one place to another.
You may need this if you are shipping possessions to another country during a relocation, or if you’re a courier or transport company carrying cargo for various clients. Many policies will be designed to protect the carrier who is actually responsible for transporting the goods, while some policies also offer certain protections for shippers. It’s always best to double-check that your items are completely protected throughout the whole journey.
How Much is Cargo Insurance and What Are the Limits? Shipping can be a complicated process, and while new technologies and services make it much easier for freight to be transported across borders by land, sea and air, the need for insurance is just as important as it ever was.
Surprisingly, a great deal of cargo is uninsured despite the high risks companies face while goods are being transported. Also, many shippers find themselves in difficult positions when their cargo isn’t insured for particular journeys or locations. The reality is that taking out insurance upfront before your goods begin their journey is always the best way to avoid the huge costs that you’ll face if your cargo is lost, damaged or stolen while in transit.
A great many cargo insurance claims are unfulfilled simply because shippers are not completely aware of the details of their policies. As such, it’s always better to diligently plan in advance and check the details of your policy before you start shipping any valuable cargo for your business. Taking Out International Removals Insurance? Key FAQs for Homeowners. Making sure you’re covered during your relocation process is slightly different from ensuring your home normally. While your existing policy may actually cover you for the moving of your possessions to your new home, many do not and you will need to take out a separate policy to ensure your items are protected while in transit. Even if your existing policy makes provisions for moving house, it may include a cap on the value of items and you may find that you would not be fully reimbursed or compensated for any loss, damage or theft that takes place while your contents are temporarily moved.
How to Keep Your Overseas Removal Insurance Costs Down. There’s more than enough to think about when moving overseas, which is perhaps one of the largest logistical tasks you’ll ever have to carry out. If you haven’t moved abroad before, keep in mind that it involves so much more than just finding a place to live and moving your furniture to your new location. Integrating into a new country requires you to consider everything from the new schools your children will attend, where you can access medical care, organising daily transportation and ensuring your whole family has the right insurance in place in case anything goes wrong.
When you’re moving abroad, it’s crucial that you also take out removals insurance in addition to any travel and health insurance you need. The last thing you want when you’re in the middle of sorting out a million and one jobs during your relocation is for your items to become lost, stolen or damaged, without effective insurance in place. There Are Many More Couriers On The Roads Today. There is no doubt whatever that more and more shopping is being done online, especially since the start of the pandemic. Even before we had Coronavirus the amount of online shopping was increasing rapidly, but recently it has gone through the stratosphere, as you can see from the amount of money that Mr Bezos is pocketing. The result has been, of course, that today there are far more couriers on the road delivering all this online shopping than there have ever been, and again the pandemic has contributed to that because people who have lost their jobs that they may have had for years have become couriers in order to keep food on the table.
At The Insurance Broker, we have noticed this because of the increasing demand for transit insurance cover and courier insurance. However, a lot of people seem to have become confused over the difference between the two, so let us try and clear that up. Cargo Insurance Claims Can Become Very Complicated. When you have a business which involves shipping goods to your customers, such as if you are a manufacturer, retailer, or distributor, one of the things that can become a major headache is cargo insurance claims.
If something is damaged in transit and has a value of £1,000, if your business’s net profit is 2.5% and you are unable to recover that £1,000 you are going to have to make another £40,000 in sales to recoup the cost. Most business people only have a very vague knowledge of how claims for lost or damaged cargo work, if indeed any at all. The first thing to note in a claim for damage or loss to cargo is that the claim has nothing to do with whether or not the carrier was negligent but is based upon breach of contract by the carrier. The carrier agreed to take goods from point A to point B and the shipper agreed to pay his fee. The carrier failed to do so. It gets even more complicated because back in the day, a carrier would only operate in one of the various modes.
Why Would I Need An Insurance Broker? Many people might think that in the 21st century that is a very fair question. After all, we have the internet, and it’s easy to go online to one of the comparison sites and find the cheapest insurance cover isn’t it? Well, yes, and no. Just to begin with, the comparison sites don’t compare all the different products from the 903 general insurance companies that are authorised in the UK, according to the Association of British Insurers. Of those, 340 are authorised in the UK and 563 are headquartered in another European country and passport in under Solvency II.
Now multiply 903 by all the different products that those insurance companies offer, and you are looking at an awful lot of policies. Then there is the simple fact that not all insurance policies offer the same level of cover and may very well exclude the sort of situation that you are most likely to face. There Are Many More Couriers On The Roads Today. International Shipping Insurance Can Be Complicated. Some Useful Tips For Moving Abroad. Moving abroad can be one of the most exciting times of your life. At the same time, it can be one of the most scary. As A Courier You Need To Be Certain You Have Sufficient Insurance. One of the side effects of Covid-19 has been that more and more people are shopping from home.
Just look at the increase in turnover at Amazon, and that tells you all you need to know. Of course, more people have been shopping from home for the simple reason that they don’t want to go out and mix with lots of other people in stores on the shopping centre, and that is understandable. However, a lot of those same people who hardly ever bought anything online have now found that it saves driving and trying to find somewhere to park. International Shipping Insurance Can Be Complicated. Courier Insurance can be Extremely Complex. Since we have had lockdown the demand for couriers has grown. Why Do I Need an insurance Broker to Get my Insurance? At The Insurance Broker in Preston, this is a question that we get asked quite often, as you might guess. Moving Overseas Is a Very Big Deal. Moving overseas is a very big deal. It is one thing moving across town in the UK. Moving Home Is one of the Most Stressful Things We Ever Do.
Moving home is known to be one of the most stressful things that we ever do, and yet the average homeowner moves every 7 years in the UK. Things you need to know about Insuring Goods in Transit. International Shipping Insurance can be very Complicated. At The Insurance Broker, We’ll see you Get the right Insurance for Moving Abroad. Office Insurance is critical for any Business. Tips for Insuring Your Domestic or International House Removals. While moving is a really challenging thing to experience, domestic and international house removals are different beasts entirely.
Though they will include a number of the same activities, there will be a number of additional considerations you will need to make if you are crossing borders and intend to bring many of your worldly possessions with you. Below is a quick crash course on both domestic and international removals and what you need to consider when undergoing either of these challenging activities in the near future. Initial Thoughts In addition to packing and relocating things to their new address, people often don’t realise the many different sides of relocating.
Some might have some experience with DIY moving or relocating to another town, however, few have handled long, cross-country moving, let alone international moving between different nations and cultures entirely. Valuing Your Goods Try not undervalue your shipment. Declare High Value Items. Reasons why International Shipping Insurance is essential for your business. Transit insurance coverage covers inventory or other merchandise shipped by the seller, which has not yet been received and accepted by the purchaser. In its most basic sense, it is intended to protect both parties during the exchange of goods and is becoming increasingly important for effective ecommerce business models where items are sold in large volumes across borders, increasing the risk of damage and loss impacting business operations. How to Protect My Personal Effects When Moving. Understanding the International Moving Insurance Market.
Helpful advice for taking out Business Shipping Insurance. Reasons why International Shipping Insurance is essential for your business. Things you should know before buying Overseas Removal Insurance. What Is covered Under Freight Liability Insurance? The many benefits of using the Insurance Broker for Cargo Insurance. You need specific Insurance Cover when Transporting Goods for Others. There are many things to consider when Moving Overseas.
Yes, You Can Still Move Home Despite Lockdown. Insurance For Couriers Can Be Complicated. Here Are Some Of The Insurance Policies You May Need As a Business. There Are A Lot Of Things To Look Out For When Considering Removal insurance.