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What Insurance You Need to Be a Courier
Courier insurance is the insurance which encompasses a variety of aspects which will cover you against any possibilities while you are at work. If you are somebody who is intending on using a vehicle for commercial purposes, such as delivering goods on behalf of a firm, then you are going to need courier insurance.
Vehicle Insurance
Courier insurance will still provide you with all the typical options which you would expect from any vehicle insurance policy, such as; legal costs, replacement vans, and your no claims discount. But the cheapest courier insurance will set you back about £1,500 and £2,000 usually. However if you are under 25 then you will struggle to obtain any courier insurance at all.
Switching
If you intend on keeping your car or another van for private use then most insurers will not give you any no claims bonus, but if you intend on getting rid of your private vehicle then you should be able to transfer your no claims discount to your new policy.
Two Choices
A method to get the cheapest courier insurance is to not get this specific kind of insurance. The alternative is light haulier insurance. However, not all insurers offer light haulier insurance so you might have to shop around in order to find an insurance company which does.
Light haulier insurance only covers you for a certain amount of trips each day and may exclude you from taking work from some courier companies because they demand their couriers to have full courier insurance.
Some other exclusions also come into play depending on your policy so check your policy carefully before committing to anything; common exclusions include carrying hazardous goods and driving at airports.
Goods Insurance
Goods insurance is a type of insurance which can form a part of any comprehensive courier insurance package. This protects goods you are carrying against damage, theft, or loss. Most of the time you won't be provided with any type of no claims discount and it will set you back somewhere within the region of £200 to £300 each year.
Nearly all courier companies will refuse to employ you if you don't have Goods Insurance as a part of your courier insurance package.
It should be noted that many insurance companies only cover goods which are being carried while they are in your vehicle and not while they are being transported to and from your vehicle. Make sure you check your policy carefully in order to check what is covered and what isn't covered.
Public Liability
For an extra charge you can normally get this cover as part of your goods insurance. Public liability insurance will protect you against any accidents caused by you or your goods while you are at work. However if the accident is found to be your fault then you may be stuck with the bill.
Employer's Liability
Employer's Liability insurance used to be a legal requirement, but for most subcontractors this is not necessary so if an insurance company attempts to sell you this cover then just say no because your goal is to get the cheapest courier insurance possible whereas the insurer is trying to sell you as much cover as possible.
Working Abroad
Most insurance policies only cover you whilst you are in UK, and some even exclude the Republic of Ireland, so make sure you arrange extra cover whilst you are travelling abroad.
Purchasing Insurance
When searching for the cheapest courier insurance possible you shouldn't be blinded by price alone. Your goal should be to get the cheapest courier insurance you can while still having the cover you need to protect yourself against any eventuality you may encounter whilst at work.
Always make sure you shop around when searching for insurance, and talk to other couriers to find out about how good a specific insurance policy is.
