All employers are aware of the requirements of having employees that are trained to a high standard to ensure safety in the workplace but having the right insurance in place is equally important.
It’s advisable that employers be aware of the type of insurance they have in place to cover any damage made to the forklift itself. It isn’t always as straightforward as including cover for damage in an overall contents sum insured as for example, in some cases, if a security device is fitted to a machine, some insurers will offer discounts on a policy.
One of the primary uses of a Forklift is to load and unload lorries, which is usually done on the roads. If this is the case then the forklift needs to be registered with the DVLA and depending on the size of the forklift and the nature of business it may be a requirement that the employer has Third Party Liability under the Road Traffic Act 1988.
Here are our quick tips for insuring your Forklift
- If the Forklift is leased, you’ll need to insure to the requirements of the leasing company. If you hire the Forklift(s) the insurance company will usually grant you an indemnity policy based on the total annual hiring charges.
- It is worth including ‘loss of hiring’ charges in the policy as you will still be liable for charges until any claim is fully settled.
- Ensure the forklift is covered under a commercial insurance policy and that the sum insured represents the replacement, not the second hand, value
- It is currently a requirement that all lifting plants are inspected annually and a certificate issued on the passing of the said inspection. It’s important that you receive this certificate as if you don’t an insurer will carry out the inspection instead.
- It is worth including ‘lifted goods cover’ in the event of a pallet splitting and damage occurring to the goods.
- Breakdown – this old chestnut, but it’s worth its weight in gold when the insurer picks up the cost in the event of a breakdown
We may not be specialist in insurance but we do specialise in Forklift Training.
If you’re an employer and you’d like to get in touch about Forklift Training throughout the UK, please feel free to complete the form below and we will be in touch as soon as possible.