A Guide to Courier Insurance
What You Need to Know
- Courier insurance provides cover for courier businesses. That is, it covers anyone who couriers goods, including lone bike couriers and larger courier firms with a whole fleet of vans.
- If your business involves moving parcels for others, then having up-to-date courier insurance is essential.
- As with all types of insurance, a wide range of policies are available. Generally speaking, the more expensive a premium, the more you will be covered for.
- Third party fire and theft may be cheaper but this will only cover damage done to a vehicle and its fixtures if they are stolen or damaged in a fire.
- There are a number of specialist firms offering a wide range of courier insurance policies, from third party, fire and theft to fully comprehensive. These include the likes of Swinton and BeWiser.
- Always shop around for the best deal on courier insurance and don’t be afraid to ditch an existing insurer if you find a better deal elsewhere.
What is Courier Insurance?
Courier insurance provides cover for courier businesses. That is, it covers anyone who couriers goods, including lone bike couriers and larger courier firms with a whole fleet of vans.
As with all types of insurance, a wide range of policies are available. Generally speaking, the more expensive a premium, the more you will be covered for. For instance, third party fire and theft only covers damage done to a vehicle and its fixtures if they are stolen or damaged in a fire, while more-expensive policies might cover all accidental damage done to a vehicle, as well as its contents, while also providing you with a courtesy van and covering other expenses.
Who Should Take Out Courier Insurance?
Quite simply, if your business involves moving parcels – even relatively inexpensive parcels – from place to place for clients, then you should take out courier insurance. Indeed, not having courier insurance could have a devastating impact on your business in the event of an accident or if a client’s goods are lost or stolen. Not only will this type of insurance cover a vehicle, it will also cover goods against loss, theft or fire damage, cover a driver and other third parties in the event of an accident and may even cover the cost of any longer-term implications a mishap may have on your business.
Types of Courier Insurance Available
While taking out courier insurance is pretty much essential if you are working in the courier business, there are no hard and fast rules over what type of policy to take out. Options open to you include;
Third Party, Fire and Theft: As with the same type of insurance for normal drivers, this is the bare minimum level of cover. With this, your vehicle – but usually not its contents – will be covered against fire and theft. Additionally, in the event of an accident, damage done to a third party will also be covered, though your own vehicle or medical bills will not. Think twice before picking this type of cover; while it may save your business money in the short-term, in the long-term it can prove to be more expensive, particularly if you regularly courier expensive goods.
Comprehensive Insurance: Taking out comprehensive courier insurance can be significantly more expensive, not least as insurers tend to change couriers high premiums anyway, believing they will be out on the road more than the average motorist. However, this type of cover does offer extra peace of mind. For instance, extra benefits can include breakdown assistance, public and employer’s liability cover, cover for the goods being transported and cover for more than one driver or vehicle. Additionally, many comprehensive insurance policies also mean you will be provided with a courtesy car or van in the event of a breakdown or accident, meaning your business can carry on as usual.
Where to Get Courier Insurance
There are a number of specialist firms offering a wide range of courier insurance policies, from third party, fire and theft to fully comprehensive. The easiest way of finding the right insurer for you is to carry out a simple online search. This will reveal a number of competing insurers, allowing you to shop around and compare prices in order to get the best deal.
Among the numerous insurers offering this type of cover are Swinton, QuoteZone and BeWiser.
How to Save Money on Courier Insurance
Above all, the key to saving money on courier insurance lies with shopping around for the best deal. Compare courier insurance quotes, and don’t be afraid of ditching an existing insurer if you find a deal elsewhere. Aside from this, you may also save money by;
Being a Safe Driver: As with all types of motor insurance, courier insurance providers look favourably on safe drivers. So, be sure to emphasise your safe driving record when speaking with an insurer and be sure to shop around for a provider that will offer you a reduced price because you are less of a risk.
Putting Just One Driver on the Insurance: quite simply, the more drivers you have on a policy, the higher your costs are going to be. So, if possible, choose a single designated driver for your courier business and only add others if and when it proves necessary.
- Read our guide to motorcycle safety to avoid accidents and lower your premiums.
- Read our comprehensive guide to business insurance and make sure your company’s activities are fully covered.
- If you’re looking for a courier service, you can compare various companies and their prices here.