There Are Many More Couriers On The Roads Today
There is no doubt whatever that more and more shopping is being done online, especially since the start of the pandemic. Even before we had Coronavirus the amount of online shopping was increasing rapidly, but recently it has gone through the stratosphere, as you can see from the amount of money that Mr Bezos is pocketing.
The result has been, of course, that today there are far more couriers on the road delivering all this online shopping than there have ever been, and again the pandemic has contributed to that because people who have lost their jobs that they may have had for years have become couriers in order to keep food on the table. At The Insurance Broker, we have noticed this because of the increasing demand for transit insurance cover and courier insurance.
However, a lot of people seem to have become confused over the difference between the two, so let us try and clear that up.
If you are a courier, the goods that you transport are not your own and you are responsible for any damage, loss, or theft of those goods while they are in your care. Transit insurance cover is what you need in order to cover those goods in the event of loss, theft, or damage while in your possession so that the owner of the goods – your client – can receive compensation if such a thing should happen. If you do not have transit cover, you could be obliged to pay compensation out of your own pocket.
Part of the problem of being a courier when it comes to insurance is that you may never know from one minute to the next what it is that you will be asked to deliver. You could be shipping small items of low value one minute and very expensive items the next. Transit insurance policies can vary as regards the individual value of items carried and also the overall value of your maximum load. This means that when taking out a policy you need to try to factor in the value of goods that will be in your possession.
Transit insurance may also vary according to the types of product that you are carrying and there may be different rates of premium for certain goods so you need to check that you are covered as far as possible.
Extended Courier Motor insurance, on the other hand, is there to provide effective coverage to couriers suffering injury or harm while working. As a courier, you are legally required to have cover for any damage to other vehicles, people, or property that you may cause while on the road. This cover also works the other way around since it will afford you protection and compensation if you sustain any injury during the course of your work.
For example, you could be injured in a road accident and be unable to work for several weeks. Extended Courier Motor insurance can cover you for the time that you are unable to work. However, the type of insurance that is available can vary considerably so you need to consider what criteria you need to cover before we can give you a quote. The correct policy for you can again vary according to the type of services that you provide. You might have a large van and be transporting expensive machinery, or you might have a small van and be carrying small items of low value.
If you own more than one vehicle and employ other drivers, you will need fleet insurance to cover all your vehicles and drivers on one policy. You will also need employers’ liability insurance and public liability insurance if any members of the public should suffer harm or injury as a result of your business. At The Insurance Broker, we can advise you.