The courier industry is booming with more and more people seeking both full time and part time work. There is still much confusion though when it comes to purchasing the right insurance due to things such as whether a full liability policy is required that includes the vehicle or if policy that only covers the goods carried it required.
Regardless of your involvement within the industry though, it is imperative that you have the correct insurance in place. If you fail to have the correct insurance, you can risk losing your work contract with your supplier or worse, be liable directly for any loss or damage.
Courier Insurance Explained in Brief
The idea of a courier policy is to provide cover and compensation for either you or a member of the public in the event of harm or loss.
Courier insurance is more of a ‘cover all term’ however would be considered to be the most complete policy that would offer cover for the goods carried, the van itself and you as a driver as well as members of the public.
Self-employed couriers require a more in-depth courier van insurance policy as they are fully responsible for any action within their business. Those employed by a courier firm are likely to have some form of cover provided by the company they work for.
If you are a self-employed courier, it is worth having the extension that covers you for being ill or off the road. For example, if you were involved in a bad traffic accident that prevented you from driving for 2 weeks, without the extension to your insurance, you would not be covered for loss of earnings leaving you out of pocket.
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Goods in Transit Insurance
Goods in transit insurance (GIT cover for short), is a policy that covers a client’s property, parcels or belongings whilst in your possession.
The goods you carry as a courier can amount to quite a bit of money with more and more people ordering items online with ever increasing value.
Goods in transit insurance is more commonly found where an individual is using their own vehicle which is covered under a private insurance policy. However, they carry the possessions of others within their private vehicle and as such, need cover for those items.
Goods in transit insurance is also required if you use your own vehicle to deliver goods for the company you work for. IE, if you work for a car parts company and you need to deliver components to garages in your own vehicle, you will require a goods in transit policy to cover these in the event of loss or damage.
Choosing the right policy
When it comes to choosing the right policy for you, you need to look at the circumstance to which you will be trading. If you are a self-employed courier, then a fully comprehensive courier van insurance policy is suggested.
Where you just carry a few goods in your own vehicle, then a goods in transit policy will be fine.
If you operate a fleet of couriers, then courier fleet insurance is something you should look into.
Regardless of your situation though, our advisors are happy to help. Simple give us a call or fill out our quick quote form and we will get straight to it.