Page 23 - CITS Theft Guide

8. When an item of Plant is off hired, and you are collecting it. Collect it quickly – your customer soon as no responsibility for the machine and might not care about securing it.
9. If you have a driver in the area, drive past and check the machine is still on site where it was delivered.
Not only is this common sense but your insurance might be invalid if you don’t follow these steps. Also, check that fraudulent hire is not excluded from your insurance – it often is.
Risk Management
No matter what you do, you can’t eliminate the risk totally. This is why you need a good Insurance Broker who understands your business. In addition to sound risk management advice, a good Broker will work with you to arrange insurance cover that’s there if you need it.
Insurance can seem expensive but there are lots of things that you can do to keep your premiums down without compromising on protection. Insurers give good discount s for strong, well run businesses that pay close attention to health and safety, carry out regular maintenance and have up-to-date risk assessments. A well protected, secure yard to store your plant is also a must.
Having done all these things, your plant could still get stolen. If it does and you have to make a claim, it’s a pain – wasted time, lost hires and long lead times for new machines. You can ease the process by making sure hire contracts, delivery tickets, purchase invoices and service records are all to hand – these will all be needed by the Insurance Company. To make this as stress free as possible and ensure a quick settlement, a good Insurance Broker will support you every step of the way. If they understand your equipment and the plant hire industry, experience shows that up to 20% increase in your claim settlement is often possible.
Protect your Business
Plant security may be getting better but there is still a lot you need to do to protect your business. With the help and advice of a professional Insurance Broker who understands plant hire, your hard work could be rewarded by lower insurance premiums, less wasted time and increased profitability.
Michael Gregory of JCB Insurance (UK)
c/o the CEA
CITS – Combined Industries Unit 19, The Omega Business Village
Theft Solutions Thurston Road, North Allerton North Yorkshire
www.theftsolutions.org
DL6 2NJ