As a scrap metal recycler and/or metal dealer, deciding to take out comprehensive insurance is the best financial decision to protect your income and your livelihood.  Working in this field, you have a unique set of circumstances and risks to be prepared for and to protect against possible losses.

Fortunately, a personalised insurance policy coverage is available through Bluewell Insurance for scrap metal recyclers and metal dealers so that you can protect your income from possible losses brought about by claims and personal injuries.

 

Elements of a good insurance policy for scrap and recycled metal industry

Whether working as an individual in the scrap metal and recycled metal industry or with a number of employees, you need a robust insurance policy that is tailored to your circumstances. Here are the elements to be searching for when choosing your insurance cover and policy:

 

Comprehensive cover

Comprehensive cover is an insurance policy that protects your metal recycling and metal dealing business from all possible risk and may include professional indemnity insurance, property loss or damage cover. Other areas of cover that might be important for your business might include:

 

• Machinery breakdown
• Vehicle coverage
• Building and contents insurance
• Life Insurance / Income Protection
• Workers Compensation

When searching for cover, you can either identify a single existing policy that covers key risks or you can negotiate for a customised policy that suits your specific business needs. Consulting an insurance provider helps in identifying potential risks and designing an insurance policy that keeps your business safe. Bluewell Insurance Brokers can assist with customising a cover for you or finding an existing cover to suit you.

 

Affordable

It is important that your costs in business are not prohibitive and it is an often held assumption that insurance policy covers are expensive. This can keep many metal service business owners from insuring their businesses. There are affordable insurance policies for metal recyclers and scrap metals dealers specifically designed to protect your business income when misfortune strikes. Access to comprehensive yet affordable insurance policies has been made easier by the internet market. You can search online for a provider offering the best covers that suit your business needs at the lowest rates in the market or contact us to do the running around for you.

 

Flexible premiums

When applying for the insurance policy for yourself and your business, it is important to check on the premiums. In order to keep your business safe and financially viable, you need to keep track of premium payments. Be on the lookout for providers with flexible premiums that are hassle-free and give you the option to make payments that suit your income flow.

 

Insurance options

Insurance will not prevent the risks from happening but shields your metal recycling and scrap metal business from financial impact brought about by the risks. Here are the policy covers available for you:

 

Public liability insurance

When running a metal supplies business, you will often have customers and suppliers walking about within your business premises. Metal stocks, equipment and tools can cause injuries to customers and suppliers despite the security measures you put in place. This is why you need a public liability insurance policy to cover incurred medical, legal and compensation fees.

 

Workers compensation

Do you have employees in your scrap metal recycling or metal dealing business? If yes, you definitely need this insurance policy. Employees are prone to cut wounds, burns, fractures and other injuries as they work with sharp objects, electricity and finishing materials that may lead to allergy. This policy covers legal and medical fees while providing compensation if need be.

 

Sickness and accident policy

When operating as an individual in business, sickness and debilitating accidents simply mean you can not work and you may have no income. This is unfortunate especially if you have dependants. This policy protects your income in case of sickness and accidents.

 

Tools and equipment cover

In order to make a decent income flow, you need your tools, vehicles and equipment to be functioning well and readily available. Loss and damage of tools and equipment can easily knock you out of the business of scrap metal recycling and metal dealing. Protect your tools and equipment by applying for insurance now.