If you have these assets solely for your own business use, then we just need to understand how you work with them, and then build a flexible policy that fits around what you do and where you do it.
We have clients that hire their equipment out to third parties and we play an important role in that arrangement in ensuring that the contracts are clear in terms of responsibility and also the processes surrounding items going out and coming back in are thorough enough. That allows us to then control how we build a policy that covers all eventualities but doesn’t cost the earth – as it can do without the processes and controls in place. This is essentially then a “contingency” style cover, but that needs the right partner with the right knowledge.
Clients that hire in a lot of equipment, also have a similar number of considerations but in reverse. These policies need large amounts of flexibility so that the administration of insurance doesn’t become a burden. But also retaining control on costs and ensuring that you are not over paying for cover you don’t need when you don’t need it. It’s a fine line we walk many times for many clients.
Most importantly we have the support of the handful of genuinely specialist underwriters who work with us to create the right solution for you. We avoid the pitfalls, and design something which can become a long term relationship which works really well, as then between ourselves, our underwriting partner and you we create a fluid working relationship that allows you to be as effective as you can be.