From handling hazardous materials to heavy haulage transport, skip hire and waste management businesses are exposed to many risks. As a result, having the right waste management insurance in place is essential to protect the business, its employees, customers, and the public.
The level of cover required can depend on factors like the types of waste handled, the location of operations, and the activities the business carries out.
With that in mind, let’s look at the insurance typically required for skip hire and waste management businesses and how these risks are managed.
Types of insurance required
There are many types of insurance, but these three are commonly used in the skip hire and waste management industry.
Vehicle insurance
Most businesses require vehicles to deliver and collect skips, transport waste, or move materials between sites. When a vehicle is used for business, it must have a policy that covers the associated risks. Specialist waste carriers and vehicles with equipment like skip-loading mechanisms may also require additional cover.
Public liability
Public liability insurance helps protect businesses against claims from members of the public if they are injured or their property is damaged because of a business’s activities. For companies that typically deliver and collect skips or materials from homes or construction sites, this insurance is critical.
Employers’ liability
Most businesses that employ staff require employer’s liability insurance. This helps protect employers if a member of staff makes a claim after becoming injured or ill at work.
From lifting heavy objects and operating machinery to handling waste materials, employees in the industry are exposed to many risks. Insurance needs to cover factors like the activities performed and the number of employees.
Getting the right cover at the right level is essential
Insurance requirements can differ from business to business. Delivering skips can have very different insurance needs from handling construction waste, and in some instances, more specialist cover is needed.
As a business grows, requirements can change too. So businesses should review policies regularly to account for additional employees, new activities, or updated processes. Thankfully, insurance brokers can help ensure businesses get the right level of insurance and are covered for every eventuality.
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