Working as a courier has never been more accessible or lucrative as the mail-order industry continues to grow exponentially year on year. DHL, FedEx, Amazon, and dozens of others are almost permanently recruiting couriers, both employed and self-employed, to deliver goods from them. So whether you want to earn a little more money on the side or take it on as a full-time income, this is the time to do it.
With the surge in the industry so prominent, the need for the correct insurance has never been more critical, and it can sometimes be tricky to know exactly what you need cover for. For example, there’s not much use paying for £250,000 contents insurance when you carry only letters worth a fraction of that amount. In this guide, we’ll explore everything you need to know about courier insurance and how it can differ depending on the goods you deliver.
Types of Courier Insurance
The first thing you need to consider is the insurance for the vehicle you drive as a courier. Specialist courier van insurance allows you to use the vehicle for the business use of delivering goods and parcels. This is likely to be more expensive than your car insurance due to the increased time you spend on the roads, increasing the likelihood of you being involved in an accident. Although it makes the policy premium more expensive, you must tell the insurance provider what you will use the insurance for, or you won’t be able to claim in the event of an accident.
There are three types of courier insurance:
This is the most basic level of cover as it only protects you against injury or damage to a third party, whether that is the person, their property, or their vehicle. Your own vehicle is not protected in any way.
Third-Party, Fire & Theft
This covers everything from Third Party insurance, plus it covers your own vehicle in the case of fire damage or theft.
This covers everything in the previous two covers, plus the added cover for your own vehicle in all situations. You can also add personal cover to this type of insurance.
Goods in Transit Insurance
As a courier, you have more responsibility than simply being on the road and driving. You also have the goods that you have onboard to deliver throughout the day, so Goods In Transit insurance is essential. This insurance covers the goods you carry, usually up to £50,000 in the case of loss, theft or damage per load on any one claim. While this is optional legally, some companies may make this mandatory to work for their company and deliver their goods.
Public Liability Insurance
Unfortunately, accidents do happen fairly regularly. If it involved a member of the public, they could claim compensation against you. Public liability insurance protects you from this, as it will pay for any legal defence and compensation that may be due to the person claiming against you. However, this can be incredibly costly, and without this cover, you would be liable to pay everything from your own pocket, which puts most people in a very tough spot.
As you can see from these policies and add-on’s, having the proper protection when working as a courier is crucial to a happy career. An accident can occur on any given day. Even if you’re not at fault, if you don’t have the proper cover to protect you, it can become financially damaging beyond reproach.
With JB Brokers, we’ll find you the lowest possible price for your work as a courier and make sure that you’re not left vulnerable anywhere. To find out more about courier insurance, give us a call on: 0330 995 8447 or email us at: firstname.lastname@example.org