A Crash Course on Goods in Transit Insurance for New Couriers
If you’re thinking about being a courier or delivery driver as a potential profession for yourself, you’ll certainly come across goods in transit cover. Sometimes drivers get confused about what this type of cover is and how it differs from other types of insurance, such as van insurance, courier insurance or just standard car insurance, so we’ll be explaining the basics so you can start finding the right policy for your needs.
Goods in transit insurance is not like other forms of business or personal insurance. It is not a legal requirement for you to operate as a courier. However, many companies and authorities will require you to take a policy in order to work for them
Often, courier companies will advise you on the type of cover to get or extend their existing policy to you. However, it’s increasingly common that couriers working for several employers at the same time on short-term contracts will have their own policy.
All this comes down to the kind of job you have as well as the typical goods you will be carrying. Making sure you have the right amount of cover in place is important in case of loss, damage, theft or misplacement of items – you don’t want to be held liable for the cost of any of these things happening.
What Does the Insurance Cover?
Car or van insurance will only cover things like your vehicle and other people’s property, however, goods in transit cover is slightly different. This cover specifically refers to protection for the goods you are transporting.
Goods in transit insurance is designed to protect your van and the content you’re carrying as part of your work as a courier or delivery person. For example, if you drive a truck in the haulage industry and transport various goods across the country, this cover will protect you if something happens to the goods you’re carrying along the way.
This could be things like accidental loss or misplacement of the items, or even intentional theft. Obviously, the more expensive the items you are carrying the more imperative it is for you to have good cover so you don’t end up getting stuck with the bill for whatever reason. Unfortanately, this also means you’ll typically have to pay a higher premium on your goods.
Should I Get Goods in Transit Cover?
It is always important to have some form of goods in transit cover. Courier insurance protects you against the risks you face when picking up goods and making multiple deliveries for hire. It is not just your vehicle that needs protection while you are on the road: you also need cover for liabilities, and the goods you transport.
If you regularly drive a van or pickup to transport goods, tools and materials in connection with your business or work, this is a vital component of protecting yourself. You’ll be able to find plenty of affordable options for transit insurance online so there’s really no excuse for not getting protected.
The reality is that as you’re on the road more, and sometimes with expensive cargo, you’re exposed to more risks. Therefore, it can provide you peace of mind should you or your customer’s materials, goods or cargo be lost, stolen or damaged in transit.
You might think that this is unlikely and that your driving skills are safe and reliable, but sometimes certain activities or events are simply unavoidable.
Different Types of Van and Goods in Transit Cover
There are multiple types of car and van insurance policies suitable for couriers and delivery drivers. The right one for you will depend on the type of operation you are involved in and how often you carry cargo.
Traditional haulage policies are designed to use your van to transport other people’s goods or get paid to move cargo. This could be building materials, food, parcels or electrical items. To be covered for haulage, you’ll need a courier or goods in transit policy.
An own goods policy might also be suitable for you, which means you’ll use your van or pickup to carry work-related goods, tools and equipment. You may also carry the equipment and tools of your contract employers and use your vehicle for commercial transportation only part of the time, while also using your van for personal use.
Looking for transit insurance online? Get in touch with us at the Insurance Broker to help you take out the necessary protection you need as a UK courier.