Courier Insurance: Ensure You Get The Right Kind Of Cover

The courier business requires the usage of vehicles to deliver goods and also requires

the right kind of courier insurance to ensure its sustenance in the long run. The kind of vehicle cover required for the courier business is different from the normal vehicle insurance.

That is due to the nature of the courier business, which involves the carriage of goods by people who need to get off at different locations to deliver those goods. Since this business deals with the carriage of goods that belong to other people, it necessitates an insurance cover that is much different and not usually offered by the run of the mill insurance companies.

Courier insurance is of mainly three types vehicle insurance, the goods in transit cover and the public liability cover. All of them are extremely critical to the smooth running of the courier business. Let us look at them in some more detail.

a) Vehicle insurance

Every vehicle on the road requires vehicle insurance. This is a fact that many are not aware of and many therefore, do not bother to take adequate cover. However, when it comes to conducting a business such as the courier business, it is imperative to discuss your needs with an insurance company and get their input on what kind of cover would be suitable for you. Since the business is a commercial one, in the sense you are carrying the goods of people for a profit, the premium rates will vary and may be on the higher side, since the insurance company is taking on a risk by providing you the coverage. Since you will be using a number of vehicles when conducting your courier business, you would probably benefit most from a Fleet Insurance policy that will cover all the vehicles in one policy.

b) Goods in transit insurance

This provides cover against any claim towards damaged goods or goods lost in transit. It enables the cover of goods up to a maximum value of 10,000. This cover is very critical, not only for your business, but also to demonstrate to your customers that you mean business and are taking all possible precautions to run it smoothly. They will feel more confident about doing business with you. This policy will not however cover any of your personal items that you may carry in the same vehicle and they will need to be insured separately.

c) Public Liability Insurance

Though this may not appear as important as the vehicle and goods in transit covers, this is a cover that you must insist upon, as it can provide protection against customer claims for any damage to their goods arising from an accident.

When negotiating with insurance companies for courier insurance, you need to bargain hard and ask for discounts on the premium. Some companies do offer discounts on their introductory price and for those just starting out and are new in business. Customers who have a good driving track record and who take multiple policies from the same insurance company can also get the benefit of discounts. Make sure that you read the fine print and understand the policies in detail before signing up for cover.

by: Paul Headley

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