Transportation insurance claims can be complex and challenging, often causing disruptions and financial losses for businesses. In our latest case study, we delve into the intricacies of a claim involving a client’s fleet of new tipper trucks. Dive into the strategies behind successful resolution and the importance of working with a trusted insurance broke.
The Incident
In the dynamic world of transportation, unforeseen incidents such as accidents or vandalism can have serious consequences for businesses. This case study serves as a testament to our proficiency in fleet management and claims handling, as we navigate a claim costing nearly £500,000 resulting from an arson attack on our client’s fleet of brand-new tipper trucks.
The client’s brand-new trucks were parked overnight in a secured compound and fell victim to arson, resulting in 4 trucks being unsalvageable and therefore written off. The client promptly contacted their dedicated Account Executive at Anthony James on Sunday morning, who immediately engaged our in-house claims team. With evidence from CCTV and constant client communication, we swiftly initiated claim proceedings upon notification.
How We Helped
Understanding the urgency and complexity of insurance claims, especially in high-stakes scenarios like this, we immediately sprang into action, upon receiving the client’s distress call. Leveraging our longstanding partnerships and industry expertise, we engaged with AXA claims investigators, loss adjusters, and law enforcement agencies on behalf of the client, sparing them the burden of navigating the intricate claims process alone. Through meticulous evidence gathering, including CCTV footage and constant communication with the client, we built a compelling case to support their claim for compensation.
Our advocacy and negotiation skills proved instrumental in securing a favourable outcome for the client. Despite the initial offer falling short of our client’s expectations, we tenaciously advocated for a fair settlement of £120k per vehicle, doubling the original offer. This substantial increase not only alleviated the financial burden on our client but also underscored the value of partnering with a dedicated insurance broker like Anthony James.
Recognising the impact of the written-off vehicles on the client’s insurance policy, we successfully negotiated a return premium upon deleting the damaged vehicles from the policy — a rare concession that further mitigated our client’s financial exposure.
Should I Work With a Broker?
By tapping into our expertise and extensive industry connections, we not only prevented substantial financial losses but also surpassed our clients’ expectations. This success story underscores the indispensable value of collaborating with a trusted insurance broker. With our guidance and support, you can navigate complex insurance matters with confidence, ensuring that your business is adequately protected and positioned for long-term success.
To learn more about our in-house claims team, click the link below. Or call 01509 274000.
