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How to get started with courier fleet insurance?
If you own a courier service, you know how important it is to insure your vehicles properly. It’s very uncommon for courier services to have a fleet comprising a wide range of vehicles, each with its own unique value.
If your company relies on many trucks or other vehicles to carry items to clients, ensuring the safety of these vehicles and their drivers will be a major responsibility.
Taking care of a fleet of courier automobiles is a huge responsibility, so it’s important to have sufficient insurance you can count on. It can be even more challenging to find inexpensive coverage that meets your specific requirements.
Courier fleet insurance
It is a kind of fleet insurance intended particularly to cover a fleet of courier vehicles. Based on the fleet courier insurance you pick, you will be insured in the case that your trucks, cars, or cargo you are transporting are destroyed or stolen while in transit.
Why do I require courier fleet insurance?
Due to the nature of the work, couriers are at a higher risk of being involved in an accident, which is taken into account by fleet insurance policies. Consider the fact that your staff may have to make many deliveries in a day, in all kinds of weather, while sticking to strict deadlines. Courier vans that deliver the goods can also be easier targets for thieves, which is something else that insurance companies will think about.
Most of the time, your normal commercial van insurance probably won’t cover your work as a courier. If you don’t have the right kind of coverage, your insurer may deny to compensate you if anything bad happens.
Different types of cover
Policies are mostly a combination of various kinds of insurance, so you can make a package that meets the exact requirements of your courier business.
The first thing you’ll have to decide is how much van insurance you want. Here are some main coverages:
Any harm you do to other people or their property is covered by this policy, but not your own. Legally, this is the bare minimum of protection you must carry, but keep in mind that it won’t help you if you accidentally wreck your own vehicle.
Third-party, fire, and theft coverage
This policy will pay you if one of your vehicles is lost or destroyed by fire. It will also cover third-party loss and damage.
This type of insurance covers third parties, theft, and fire, and it will also compensate to repair your car if you get into an accident. This is the best level of insurance policy you can have.
When insuring a fleet of cars, you can also purchase add-ons in addition to third-party and comprehensive insurance.
- Breakdown cover – In case you break down on the side of the road.
- Courtesy van – If one of your vehicles is being repaired, you will be provided with a van for your use.
- Goods in transit – often known as “carrying for hire and reward” insurance, protects and pays the policyholder in the event of a loss, burglary, or damage to the insured goods while in transit.
- Public liability insurance – pays third parties if your firm causes them bodily harm or property damage. Suppose you are unloading packages and someone stumbles over them.
- Employers’ liability insurance – pays out money to employees if they get injured or sick at work. If you employ any workers, even part-time or temporary ones, this is a legal requirement.
- Legal fees – this covers the cost of legal counsel if you have to file a lawsuit for damage and loss or if you are taken to court.
Make sure you read the fine print of your policy to find out what is or is not included, as some policies may cover less than others.
Cost of courier fleet insurance
Since every policy is distinct, it’s hard to give you an idea of what your price can be. Depending on your specific needs, fleet insurance quotations are tailored to fit your company.
Some of the things that will be considered are as follows:
- How many cars and trucks do you run.
- What kinds of vehicles do you rent or own.
- What kind of business do you have.
- Your trade record.
- Drivers’ backgrounds, ages, and years of experience.
- Where do you work?
How to spend less on your courier fleet insurance?
- Be picky about your drivers. Employing an experienced, reliable driver is a great method to keep the price of your fleet insurance down. Insurance companies think that drivers who are above 25 years old, have a great experience driving, and have hardly any claims are low risk.
- Another fantastic way to bring down the price of courier fleet insurance is to make sure your vehicles are as safe as possible.
- Get estimates from many suppliers to compare prices and determine whether you’re getting a decent deal.