By having the appropriate courier insurance in place for your business you are able to move goods for your customers. To move goods around, you must legally be covered to do so, and by having this in place you can keep your business moving. Depending on which types of goods you are transporting will depend on the level of cover you need.
What is courier insurance?
Courier insurance covers not only the goods that are being transported but also the person who has to safely deliver the goods. Couriers usually have multiple drop-offs and destinations on a daily basis, so having cover in place will ensure that the goods in transit are protected against loss, damage or theft.
Levels of cover available
Of course, like any insurance there are different levels of cover which you can choose from. The level of cover you choose for your business is really important as couriers do pose more risk than any other business due to the length of time that they are on the road.
Third party only – This cover is the absolute minimum cover which is required by law. Although the cheapest too, this doesn’t necessarily mean it is the best. This type of cover will only cover third party liabilities in the event of an accident and any damages to your vehicle or employees will need to be covered by yourself.
Third party, fire & theft – This is the same level of cover as third party only, except it also covers against fire and theft of your vehicle too.
Comprehensive – This cover includes everything under third party, fire and theft as well as covering you for your vehicle too.
What should your policy include?
Different businesses have different insurance requirements for their drivers so it’s best to double check what cover you need to have to coincide with other insurances you may have. You will need to consider the following when choosing your policy:
- Do you need the policy to be in your name or your company’s
- Do you want to have your no claims bonus protected
- How many vehicles you wish to insure
- If you have 5+ vehicles, you may want to consider fleet insurance instead.
If you need help or advice on the best policy for your business contact us and we will be happy to help.