Logistics & haulage
Logistics carries two risks at once — the vehicle and the cargo — and they are covered by two different policies. Holding one and assuming it covers both is the mistake we see most often in this sector.
The risks we see
What actually goes wrong in this sector.
The cargo is not the vehicle
Motor cover repairs the truck. It pays nothing towards the goods it was carrying. Goods-in-transit cover is a separate policy.
High road exposure
Vehicles on Nigerian roads for long hours accumulate incidents. Frequency, not severity, is what drives cost here.
Driver risk
Cover often depends on who was driving and whether they were authorised. An unlisted driver can void a claim entirely.
Customer liability
Your contracts usually make you responsible for goods in your care, on terms that may be wider than your insurance.
Cover that responds
What we would look at placing.
A starting point, not a recommendation. What you actually need depends on how you operate, and that is a conversation.
Motor Insurance
Fleet cover for the vehicles and third-party liability.
Goods-in-Transit Insurance
The cargo itself, while it is moving.
Public Liability Insurance
Damage caused at customer premises during loading and delivery.
Group Life Insurance
Drivers and warehouse staff.
Marine Insurance
Where consignments cross borders or move by sea or air.
Gaps we find when we review existing policies
If you already have cover, start here.
These are the things we most often find missing when we read a policy in this sector. Any one of them is worth checking today, whether or not you ever speak to us.
- Goods-in-transit limits set per vehicle rather than per consignment value
- Cover excluding overnight stops or unattended vehicles, which is when much theft occurs
- Drivers not properly listed or licensed under the policy terms
- Contractual liability to customers wider than the insurance actually held