Courier Insurance - Protect Your Turf
Everybody wants to be independent and entertain thoughts of starting their own small business venture at some point in their life
. With the right idea and execution, it is not impossible to become a successful owner of a business, and many entrepreneurs have, over the years, proved that to the world.Fortunately, banks and lending institutions are also willing to encourage such initiatives by lending a helping hand in terms of the finance necessary. Venture capitalists have also helped individuals become successful by extending them the required finance for projects initiated by them, as long as they have been convinced about the business model.
The courier business is one such venture that has seen many entrepreneurs try their hand at it. With growing demand for movement of goods and documents in this time-sensitive world, this business has seen the emergence of many new players that started small and have gone on to build a successful business for themselves. If you are one of those wanting to start a courier business, you need to be aware of some of the basic necessities required for the business, such as courier insurance, to sustain itself and keep going as you cannot afford any discontinuity in this trade.
To start with, you will require vehicles that will help you move items to different destinations, and this automatically means taking care to ensure that they are properly insured. Since these vehicles will be on the road most times, the chances of accidents happening are high and you just cannot afford the time or the cost, or to get involved in litigations arising out of any such unfortunate mishaps.
At the beginning, such insurance costs may seem to be a big drag and you may want to save that money for investing into your fledgling business, but you must understand that unless you have protected yourself against some of the risks adequately, you could be wiped out of business even before you have begun.
Some of the must have insurance policies are:
a) Goods in Transit Insurance will provide cover against any damage happening to the goods being transported in your vehicles. Though this may not cover all types of goods, you need to choose depending on your business needs and take it accordingly.
b) Hire and Reward Insurance, which provides cover against damage caused to third party items. The cover may not be as much as the other popular options but can be very handy when you are in a business that is dependent on speed, immediate results and instant recognition.
c) Light Haulage Insurance provides limited cover restricted to the drops per day, and that is normally three. It is still a very useful policy to have considering that the coverage is for goods in transit.
In addition, depending on the goods you carry and the progress you start making in the courier business, you could keep adding other types of courier insurance to cover items such as fine arts, ceramics, glass, antiques and so on.
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