Low-cost courier insurance for business
If your day-to-day job involves driving a car, van, truck or bike to deliver goods from one destination to another, courier insurance is a must.
Whether delivering client packages across the country or commercial goods overseas, you will spend a great deal more time on the road than the standard driver as a courier.
What does this mean? Greater exposure to risk! Traditional insurance policies may not provide you with the right level of cover - this is where courier insurance comes to the rescue. Thankfully, we’re here to assist you in finding the best deals.
What is courier insurance?
Unlike standard car insurance, courier insurance differs in that it covers the transportation of goods and the individual transporting of these goods and the vehicle in use. To ensure you meet the needs of both you and your customers, it’s hugely important to pick the right type of courier van insurance.
This isn’t as easy as it seems, as there are so many options to choose from. When it comes to working out exactly what kind of courier insurance you need, there are numerous factors to consider. Firstly, the different types of courier van insurance available.
What are the different types of courier insurance?
Courier insurance is traditionally made up of a handful of different types of insurance. The great thing about this is that it allows you to choose a tailor-made courier van insurance policy - one that has been designed with your personal needs in mind.
In most cases, you will need to decide on the type of van insurance you wish to invest in. This could be third party only, third party, fire and theft, or comprehensive van insurance.
This is the best cover available and offers the highest protection.
It comprises of third party, fire and theft cover and covers costs should you need to repair your vehicle in the event of an accident (whether it’s your fault or not).
Third-party, fire and theft
This policy comprises third party insurance, as well as additional cover for your vehicle if it is damaged by fire or stolen.
Third-party only cover – this is the most basic policy on the market, covering the cost of any damage equated in an accident that has affected other people or drivers and their property.
One key point to factor in when considering this level of courier insurance? It doesn’t cover you or your vehicle - meaning you will have to front the costs of the damage yourself.
Compare cheap courier insurance quotes
What extras can I add to my courier cover?
In addition to selecting your desired level of cover, there are numerous add-ons available, some of which we have listed below:
Public liability insurance
This type of liability insurance has been set up to compensate other people if they’re injured or their property has become damaged through work-related activities.
An example of this would be if an individual trips over boxes you have unloaded and breaks an arm or leg.
Employers liability insurance
If like many business owners today, you own a fleet of vehicles used solely to courier goods to and from different locations, and you employ several drivers, these cover options are the best for you.
They cover compensation costs should your staff fall ill or become injured due to the nature of their work.
You’ll need to invest in employers’ liability insurance by law if you employ staff, even if they’re only employed on a part-time or temporary basis.
Carriage of goods for hire and reward
This type of cover falls under goods transit insurance. It is hugely important for courier drivers who deliver goods, especially those who make multiple deliveries. It safeguards transporting goods and compensates all drivers (including younger drivers) for damage, loss, and theft.
When choosing this type of courier cover, it’s important to keep in mind that policies differ across the board, and many will showcase different terms and conditions. It’s therefore wise to check the small print beforehand - this way, you will avoid any unnecessary surprises.
An example of this is that your policy may not cover you for goods damaged unless packed correctly at the source.
How much does courier business insurance cost?
Normally, courier van cover starts at just under £90 per month. This does depend on the provider and the height of cover, as well as the number of vans you intend to insure. Other factors to consider include the age of your drivers, their experience, and the locations and distances you cover.
On the other hand, goods in transit insurance starts at a slightly higher price and can cost up to £200 a year. Again this depends on the provider, so it’s important to shop around and use a comparison service. You may even be applicable for a lower insurance premium or claims bonus.
When considering the cover required, remember the cheapest option isn’t always the best annual policy. It’s important to pick a courier policy tailored to your needs, as well as your budget.
Other factors to take into consideration? Extras in the shape of EU cover, breakdown assistance, the average driver age, travel insurance or roadside assistance. These will all increase the cost of your insurance annually. This is irrespective of whether you’re considering haulage insurance, fleet insurance or comprehensive cover.
You may be entitled to claim back expenses if you’re a self-employed courier driver.
Compare courier insurance quotes with Utility Saving Expert
At Utility Saving Expert, we take pride in sourcing the correct courier insurance policy for you, tailoring it to your exact needs and budget, whether this is insurance for a food delivery service or someone transporting office equipment overseas.
We’re here to remove the guesswork, ensuring your search for courier insurance is as smooth as it can be.
Simply tell us what you’re looking for in a policy by answering a few standard questions. Once we know more about you and your business, we’ll get back to you with a series of quotes from trusted insurance providers only.
Frequently asked questions
When it comes to carrying out courier work, it’s important to note that courier insurance is a legal necessity for your vehicle.
It isn’t, however, essential to invest in liability cover or goods in transit cover, although both are highly recommended - especially if you wish to invest in a strong level of protection for your business and employees.
There are various factors to consider when it comes to sourcing cheap van insurance, some of which we have listed below.
Consider the size of your van
First things first, consider the size of your van. If you can get away with investing in a smaller vehicle, you should do so.
Why? Smaller vans tend to cost less than that of larger vehicles when it comes to insuring them. This is mainly down to their power—the smaller the engine, the lower the risk. Of course, it’s still important to choose a van that suits your needs.
Compare different styles of van cover
To source the right cover at the best price, it’s important to do your research. Comparing several insurance companies and styles of cover will help you to choose the correct protection. One point to note?
Third-party only policies aren’t necessarily the lowest in price despite offering the lowest protection.
Pay for your policy annually
If you have the funds available to pay for your policy annually, this is a great way to save in the long run, especially as numerous insurance providers charge interest on monthly repayments.
Think about your van usage and work status
How you use your van naturally affects your policy. When requesting a quote, be sure to provide a detailed description of the usage to avoid overpayment.
For example, if you don’t use your van to commute to and from work, it could be worthwhile (and more pocket-friendly) to invest in a ‘domestic’ or ‘social use’ policy rather than carriage for hire or reward, haulage, or carriage of own goods cover.
Improve your van’s security
The likes of immobilisers and alarms can help keep your insurance costs down as by deterring thieves, you’re lowering risk.
Putting trackers on your vehicle is another way to lower insurance costs, as it can make your vehicle easier to track down if it is stolen. Before going ahead with additional security, check with your insurance provider. They will be able to tell you whether it makes a difference or not.
First of all, you should consider the types of policies available as well as the handy tips we’ve listed above.
From haulage insurance to employers liability insurance to windscreen cover, car courier insurance, food delivery insurance (including Uber Eats, Deliveroo and Just Eat), courier and haulage insurance, hire and reward insurance, motorcycle courier insurance and more, it’s important to consider which cover is more suited to your needs and which leading insurers are best equipped to provide this.