E-commerce online stores have solidified their place at the front of commercial businesses. This convenient way to shop has grown increasingly popular but relies heavily on couriers to fulfil these sales and deliver goods to buyers. Couriers have become their own workforce and are no longer fixed to a single business. It's not uncommon to find commercial couriers transporting a wide variety of goods, from takeaway food orders to large furniture and anything else you could buy online.
Couriers and online sellers are inseparable partners that create a commercial union, and as such, they both should ensure that they are fully protected with adequate insurance.
Why Is Courier Insurance Important?If you are a commercial courier or operate a fleet, you need to invest in insurance for your couriers to provide adequate legal protections.
The essential concept behind couriers is that they transport valuable goods, making your drivers a target for thieves. By providing courier insurance, you can protect against property theft, loss or damage on the route. This applies to any size operation, whether it's food delivery, amazon fulfilment, etc. the simple act of dropping parcels off at a specific location to be received involves navigating several hazards, including potential accidents on route.
Compensation claims can also be an issue when running a commercial courier business. With your drivers constantly working around the public, the potential for accidents is significantly increased compared to most companies' operations. These adverse events can financially escalate dramatically, from paying out of pocket to a member of the public to compensating them for their legal costs and lost earnings. In addition, these uncontrollable environments can lead to accidents such as injuries or damaged property that can evolve into expensive compensation claims.
Courier insurance provides many benefits, but one of the most significant is the peace of mind it gives its owner. Whilst diligence and training will eliminate many potential issues; there is always the potential for something unexpected to go wrong. Adequate insurance can give you the confidence to address any claims against your business.
What Is Included In Courier Insurance?One thing to initially consider is what types of risks or hazards your work will encounter. Due to the unique nature of every commercial courier, there isn't single insurance that best suits everyone. However, as insurance brokers in Bolton, we have a great deal of experience sourcing tailor-made policies that will provide the best protections. All our policies will meet the minimum legal requirements to drive on the road whilst conducting deliveries, regardless of whether you're sharing a vehicle or operating alone. Below are the key coverages that we can include in your courier insurance.
This insurance will pay a third party if your driver is liable for lost or damaged property or personal injuries. However, it's important to note that this will not cover the vehicle, so there would be additional costs for repairs or a replacement vehicle in case of an accident.
This one works similarly to the previous one, with additional protections against theft and dangerous incidents like fire.
This cover is highly recommended as it will provide the most coverage against incidents. As well as addressing potential third-party costs, this choice can be used to claim for the cost of vehicle repairs or replacement, depending on the situation.
GIT (or goods in transit cover) is a vital policy within courier insurance. This cover focuses on the condition of the transported goods being the same as when they were dispatched. Transported goods will be vulnerable to theft, damage or loss, so this insurance element is aimed at the goods themselves.
Unlike other insurance coverages, goods in transit cover is not a legal requirement for your courier business. It is, however, highly recommended, not only for the reasons previously stated but also because many companies will consider this when choosing who to hire for their courier operations.
Breakdown coverThis part of the insurance is often overlooked, but that decision is soon regretted once you deal with a damaged vehicle. Most commercial couriers are held to strict deadlines to fulfil orders, and this coverage will help with that and fix any problems with your car or van, such as punctured types, flat batteries or more.
This coverage is a valuable protection for self-employed couriers as well as other businesses. Public liability insurance brokers help you find policies to cover the costs of compensation claims and legal actions from clients or the general public if an incident is related to your business's activities. In addition, comprehensive public liability will help protect your commercial venture while operating in public spaces by covering personal injury and illness claims, lost or damaged property and fatalities.
Over the past decades, IC Insurance has developed strong relationships with various courier insurance companies. These positive connections have allowed us to refine and improve the courier insurance options to ensure our clients are the most protected.
We offer online quotes for our courier insurance solutions; please contact us today to request a quote and see how you can protect your commercial courier business.
