UK courier service providers know full well that once they get any of their vehicles on the road, they need to put money aside to pay for a courier insurance policy. Exactly like the packages that courier service providers transport, courier policies comes in all sizes and shapes to suit an organisation. Below are some of the insurance requirements in the same day courier industry and are the strict guidelines that Edinburgh Courier adhere to, so you can be sure of your goods being in safe hands with a reputable service provider such as them.
Courier service providers in the same day courier industry will not be able to operate properly without vehicles and these vehicles will require vehicle insurance. It is important for a courier service provider to get the correct cover for the vehicles they have whether it is lorries, vans, cars and even motorcycles. Each and every vehicle on the streets on the UK roads needs insurance, however, having a standard cover is not enough if the vehicle is used for businesses. Courier service providers need to take out cover for their business which is both affordable and give them the protection they need if anything goes bad. When it comes to cover features, it is important for a courier service provider to speak to their insurer about features such as legal costs, glass cover and replacement vehicle cover.
2.Goods in transit insurance
Another insurance requirement in the same day courier industry is the goods in transit insurance. This is designed to cover courier service providers who deliver third party goods. This insurance is different from vehicle insurance because it will cover damage or loss of the goods while being transported in the vehicle. It is a very important for courier service providers to know which kind of goods in transit insurance policy suits them because couriers are known to carry different kinds of goods. There are a few exclusions when it comes to goods in transit cover. Many insurance providers will not cover the transportation of human remains, livestock and hazardous goods. Other insurance providers provide what is known as partial cover for products which are seen as attractive to thieves, like iPads, computers, mobile phones and tablets.
3.Public liability insurance
An organisation in the business world will always deal with the public and dealing with them can bring a few risks, hence the need for public liability insurance. This will cover the organisation if they are involved in an accident, cause damage to property or cause injury while conducting their business. This type of insurance does come in handy for courier service providers especially if the packages they are carrying are dropped, or fall out of the vehicle while in route and injure a member of the public or cause damage to property.
4.Employer's liability insurance
A business in the UK that employs people is required by law to take out employer's liability cover. The courier service industry is known to use sub contractors meaning that they are not technically employed by the organisation they work for and are classed as self employed.
If a courier service provider runs a huge operation, it is wise for them to take out fleet insurance. This type of insurance is designed for organisation with 5 or more vehicles. It is the ideal policy because an organisation does not have to deal with individual policies for each car.