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Courier Insurance – A Necessity for Courier Services

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courier businessIf you are planning to run a courier business, the first thing you will need is a vehicle and fuel to get that vehicle on the road in order to offer an efficient and speedy service to your clients. But the very next thing you should consider is courier insurance. Courier insurance policies vary to a large extent and you should consider purchasing one that suits your needs.

Types of Courier Insurance Policies

Vehicle Insurance: A vehicle is a must for a courier business. So, first of all you will need a cover for your vehicle/s. You can choose amongst various types depending upon the type of vehicle you are using, like motorbike, van, cars or lorries. Here you should remember that the standard vehicle insurance is not enough for your vehicle you use for the business purpose. If something wrong goes with the vehicle the cover must pay for your loss in business.

You will come across numerous features in the vehicle insurance policy and you should ensure that you are getting the ones which you need. Also ensure that there aren’t any hidden costs and you are not paying for something which you don’t need.

Insurance for Goods in Transit: GIT or goods in transit insurance is meant for offering you coverage for the goods you are transporting for your client. It will cover the costs in case of damage or loss of those goods.

You may have to carry innumerable types of goods. It’s wise to check which types of GIT policies suit your needs.

You should also note that GIT insurance has many exclusions. E.g. livestock, human remains, hazardous goods etc are not covered by these policies.

Public Liability Insurance: Your business will bring you in contact with numerous people. But dealing with people has its own risks, and so, public liability insurance is a must for you. This offers you coverage if there is an accident, damage or injury to a person or property caused by you during your business operations.

Employers’ Liability Insurance: This is a must if you are running a courier business which concerns employees. If you are a sub-contractor, many of the staff members are not technically your employees, but are considered to be self-employed. You should check it out.

Light Haulier Insurance: This option is for businesses which make a few pre-planned deliveries in a day. It can also save you some money, so, it’s worth exploring.

Fleet Insurance: If your business is comparatively large involving five or more vehicles, you can save money by purchasing fleet insurance. This is cheaper and more convenient as you don’t have to handle different policies for individual vehicles.

Whatever is the need of your courier business, you should take time to study various insurance policies and decide carefully which one will suit your needs.

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