Our Business Contents Insurance could provide vital cover for your business

In this month's edition, we take an in-depth look at how Business Contents and Tradesman insurance could offer vital protection for your work or company. 

We also have news on a large chunk of British drivers admitting to illegal mobile use whilst out on the road and startling statistics that reveal that six million UK homes are risking their contents without proper insurance. 

Our Business Contents Insurance could provide vital cover for your business

 

You have invested money and years of hard work into making your business successful. With success comes more physical contents on your business premises, all of which are essential to your business’ ability to continue to trade.

If you own a business with an office environment, you might have tens of thousands of pounds worth of computer and office equipment. If you're a manufacturer, you might have years’ worth of stock and valuable specialist equipment.

If your business is hit by a devastating accident, can you continue to trade without your equipment and stock? A business contents insurance will cover your business in the event that losses occur from a number of events, such as:

· Civil disorder, malicious damage and riots
· Damage caused by a lightning strike
· Fire damage
· Flood damage
· Storm damage
· Theft from your premises

A typical business contents policy will cover losses to your:

· Equipment
· Fixtures and fittings
· Furniture
· Stocks of raw materials and finished goods
· Tools

Some business will also need extra cover for industry-specific risks, such as:

· Cash kept on premises
· Goods in transit

You may also need to consider taking out separate insurance policies for your business premises and any motor vehicles you own.

Every business has different needs, and every insurer has a different idea of what comes as standard. We can discuss your needs so that we can understand the levels and the breadth of cover that you require, to ensure that you get the perfect cover for your business.

 

Click here to discuss your Business Contents Insurance options with West Craven. 

Drivers admit to illegal mobile use whilst out on the road

 

Given how intrinsically our lives are tied to our mobile phones these days, it was no surprise that stricter laws to govern mobile use when driving were introduced in 2017. The temptation to check our messages whilst out on the road has arguably never been greater, which is why new research conducted by GoCompare discovered that over a third of all drivers admitted to illegally using their mobile device whilst in their vehicle. It’s unsurprising, but still highly problematic regardless.

The law only allows mobile use when your car is parked and the engine is turned off, meaning that use in any other circumstance, even whilst sitting in traffic, is strictly prohibited. That hasn’t deterred motorists, however, with 34% of those questioned admitting to using their phone in traffic with a further 25% using their device whilst their vehicle was moving.

Beyond the dangerous ramifications of your attention being diverted whilst driving, it’s important to note that you could find yourself in hot water with your insurer if found to be using your mobile. Any claim that you attempt to make in the event of an incident or accident is almost certain to be unsuccessful, meaning that the bill for any damage or repairs would not be footed by your insurer.

Drivers aged 18-24 were the chief offenders, with 58% of those questioned using their phone whilst driving. This age-group finds itself particularly at risk if found to be offending, with a £200 fine and a six-point licence penalty levied at those found to be using their device of grave consequence to young drivers; newly qualified drivers are only allowed six points on their licence to begin with and are thus required to reapply for a provisional licence in order to drive again.

Interestingly, only 32% of those quizzed put their phone out of reach when in their vehicle, presumably so they aren’t tempted to check any messages or take a quick glimpse at social media whilst out on the road.

“Mobile phone use behind the wheel, in any form, is illegal and highly dangerous and those who do it are selfishly putting other road users’ lives at risk,” offered Samuel Nahk, a representative for road safety charity Brake. “Anything that distracts a driver’s attention from the road, even for a split second, can lead to devastation.”

Unsurprisingly, our advice is simple; as tempting as it may be to sneak a quick glimpse at your phone whilst driving, it’s simply not worth the potential risks that come with it. Drive smart and drive safely.

Every Tradesman needs appropriate insurance. Read on to learn more...

 

To qualify as a tradesman, you must be:
• A qualified professional in your chosen field
• 16 years of age or older
If you operate from a business premise that you own or rent, then you should consider a different business insurance policy. A tradesman insurance policy will only cover those who work from home, outside or on their client’s property.

What does tradesman insurance cover?
Every tradesman is different; with each professional needing different types of cover depending on their day-to-day work. Generally speaking, a tradesman policy can cover:
• Consulting.
• Quoting.
• Private Jobs.
• Working Abroad.
• Public Contracts.
• Working On-site.

What is included in a Tradesman insurance policy?
Here at West Craven Insurance, we can tailor a tradesman insurance policy to suit your individual needs. Usually, a tradesman insurance policy combines different aspects of several other insurance policies.

Personal Accident
For the self-employed, a sickness or injury can prevent you from working; putting a sudden end to your ability to earn a living. Personal accident insurance provides financial support in the event of a personal injury or death. You can control the level of cover depending on your level of risk.

Public Liability
Should you be responsible for a member of the public suffering an injury, loss or damage to themselves or their property via negligence on your part, then you could be financially liable. A public liability policy assists with the costs of a lawsuit for negligence.

Contract Work Cover
Sometimes you can’t prevent against every eventuality. Contract work cover provides protection against an uninsurable event that stops you from fulfilling a contract. For example, the structure of the building is damaged by a storm or flood. Be aware that Contract works will only cover the parts of the building that you are working on, not the existing structure.

Employers’ Liability
No matter what type of business you run, employers’ liability is a legal requirement for any business, no matter the number of staff members. This cover will protect you and your employees should they be injured while on the job.

‘Own Plant’ cover and ‘Hired-In Plant’ cover
What’s a workman without his tools? Should your equipment be damaged or stolen, your business could experience some downtime. An own plant or hired-in plant policy (depending on whether you own or hire your equipment) provides financial cover for the equipment that your business desperately needs.

There are also several optional covers that you can add to a tradesman's policy, such as efficiency cover, work abroad cover, asbestos and specialist locations insurance. Speak with your adviser, who can assist you in customising your policy further.

 

Click here to contact West Craven to discuss your tradesman insurance options.

Six million homes could be without contents insurance

 

The Association of British Insurers has produced some welcome news with its Home Insurance Premium Tracker, which has revealed that home contents insurance costs are at their lowest since data was first collected seven years ago.

At present, homeowners and renters can expect to pay an average of £2.40 each week to insure their contents and are looking at an average annual expense of around £127. There was good news for policyholders with buildings insurance cover, too, as the average annual price fell to £258, which represented an 8% fall on 2017’s prices and sees costs hit their lowest average level since 2015.

However, the ABI’s findings also discovered that one in four households do not have any contents protection and would be at risk of having to replace all of their possessions from their own pockets in the event of a break-in. This amounts to six million UK homes, with those living in London found to be the chief offenders thanks to a whopping 45% who admitted to not having a contents policy in place.

“While the average cost of home contents insurance is at an all-time low, too many households are still playing Russian roulette with their possessions,” stated Laura Hughes, a senior policy adviser for the ABI.

“For some people on lower incomes and renters, especially in cities, insuring your possessions may be seen as unaffordable or unnecessary. But spend a few minutes totting up the value of all your possessions and you’ll realise they can add up to a significant sum if they all need to be replaced at once.”

Given that affordability has been given by many as a reason for not having contents protection in place, this news should prod those homeowners or renters on the fence about purchasing a policy into action. If you’re unsure of your contents insurance options, please don’t hesitate to contact us for a fuss-free, informative chat.

 

Click here to discuss your home contents insurance options with West Craven. 

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