Tayt Insurance Agency

How Insurance Works
Insurance cannot prevent something bad from happening. But it helps us recover financially if something does happen to something we value.

When you buy insurance, you pay a premium. Your premium joins a pool of premiums from other policyholders. The money from this pool is what is used to pay your claim if the insured event occurs.

Once you lodge a claim, depending on the type of policy you took, the insurance company will come in and assist through rebuilding/repairing, replacing, providing cash settlement, or any other form of compensation as per the policy agreement.

Insurance Companies also need insurance to be able to cover the risks they have insured, this is called Re-Insurance.

Understanding General Cartage Motor Insurance and Own Goods Motor Insurance

1/ General Cartage Motor Insurance, also known as Hauliers Insurance or Goods in Transit insurance, covers vehicles used for the transportation of third party goods. It's important for businesses that transport goods on behalf of others or that are involved in logistics and supply chain management.

2/ Own Goods Motor Insurance, also known as Fleet Insurance, covers vehicles used for the transportation of the company's own goods. It's important for businesses that transport their own goods.

3/ Both types of insurance provide protection against losses caused by accidents, natural disasters, and some policies may also cover losses due to theft or vandalism.

4/ They can be tailored to the specific usage of the vehicles, such as for long haul or short haul transportation, for specific types of goods or for specific types of vehicles.

5/ When choosing a policy, it's important to carefully review the terms and conditions to ensure that the policy provides the coverage that is needed for your specific business.

6/ Remember to ensure that the policy covers the full value of the vehicles and any additional costs that may be incurred as a result of a loss, such as the cost of repairs or the cost of renting replacement vehicles.

7/ At Tayt Insurance Agency, we can help you find the right policy to protect your business from losses.

Excited to officially launch Tayt Insurance Agency! Here to provide top-notch coverage and customer service. Let's connect and discuss your insurance needs.