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Courier Business Insurance

If you run your own courier business you’ll understand how important it is to get the right kind of insurance for your needs. Without it, you could face hefty repair bills and compensation claims for damaged goods. To help you make an informed decision about what’s available, here’s what to consider.

What is courier business insurance?

It’s a type of insurance designed to protect you, your vehicle and the goods you carry if you’re a self-employed courier or own a courier business. Policies can be adapted to suit you and the items you carry so you can be confident that whatever you’re transporting is protected.

Courier business insurance takes into account the higher-than-average number of miles you cover and the increased risk of an accident occurring because of that. Insurers also consider the greater risk of your van or car being damaged because of attempted theft.

If you are a courier or own a fleet of courier vans, it’s crucial that your policy covers your activities. If you don’t and your van or vehicles are stolen, damaged or involved in an accident, your insurer can refuse to pay out.

What does business courier insurance include?

Policies vary depending on the terms set out by each insurer so it’s vital to check exactly what is and isn’t covered in order to avoid unpleasant surprises. Some courier insurance policies will automatically include protection for the goods you’re delivering whereas it might be something you need to add on with others.

If you have to add on extra protection for the items you’re delivering, then it’s likely you’ll need what’s called carriage of goods for hire or reward. This is a type of goods in transit insurance that’s specially designed to cover the parcels and packages you deliver.

Bear in mind that there are other types of goods in transit insurance so it’s wise to discuss your options with your insurer to avoid any misunderstanding. Other types of goods in transit insurance include haulage cover aimed at long-distance lorry drivers and carriage of own goods for tradesman who carry tools in their van.

Like other types of insurance for your van or car, you’ll also need to choose from one of three levels of cover:

• Third party only – covers damage done to other people and their property in the event of an accident. It’s important to know that third party only does not compensate you for damage done to your vehicle. This is the minimum level of cover you can have by law.
• Third party, fire and theft – provides third party only cover and will also compensate you if your vehicle is stolen or damaged by fire.
• Comprehensive – this is the highest level of protection you can get and includes third party, fire and theft cover and will also pay to fix your vehicle in the event of an accident, even if it’s your fault.

What other features should I consider?

In most cases you’ll be able to tailor your courier business insurance to give yourself all round protection. Popular features you may want to consider, include:

• Breakdown cover – in case of roadside emergencies.
• Courtesy van – if yours is being repaired.
• Public liability insurance – covers compensation costs if you injure other people or damage their property through work. For example, if someone hurt themselves by tripping over boxes you unloaded.
• Employers’ liability – if you own a fleet of courier vans and employ several drivers, this covers compensation if they become ill or are injured because of work. Employers’ liability is a legal requirement if you have any employees, even part-time or temporary workers.
• Personal possessions cover – this compensates you for personal items that are stolen or damaged – for instance, glasses, sunglasses, a phone or built-in stereo.
• Legal expenses – this pays for legal advice if you need to claim for damages or if someone takes you to court.

How much is courier business insurance?

Insurers calculate premiums based on risk, so they take a number of factors into consideration, such as: • The type of goods you’re delivering – carrying high value items is likely to increase your premium. • The number of vehicles you want to insure – the more vehicles you insure, the higher the cost but providers will often give you a discount for each additional vehicle you add to a policy. • The type of van you drive – larger or more powerful vans will typically cost more to insure. • Your location – if you’re based in an urban area with lots of traffic you may pay more compared to drivers or courier businesses based in rural or less congested areas. • Your claims history – a claim made in the last five years could impact the cost of your premium.

When you compare quotes, it’s a good idea to look at more than just the policy price. Cheaper policies may have numerous conditions and limitations compared to those that initially seem expensive. Remember – if a policy doesn’t give you the protection you actually need, it doesn’t matter how cheap it is – it will end up a false economy.

Search for courier business insurance

At Quotezone.co.uk, we take the stress out of searching for business courier insurance because we do it all for you. Simply tell us what you’re after and we’ll bring back quotes that fit your needs. Plus, we’re 100% independent so you can be sure that we’re completely impartial.

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