Courier Insurance Providers – What they don’t tell you

or maybe we should title this blog “What they SHOULD tell you!” or even “What they should sell you!”

Obtaining reliable goods in transit insurance isn’t always as easy as you think.  Due to the increase in popularity of price comparison websites, many couriers are finding themselves underinsured because they have been enticed by a cheap online deal that doesn’t provide adequate cover for their needs.

Theft of attractive items – not included!

A common exclusion in cheap goods in transit insurance policies is the theft of attractive items. Policies such as this will not protect the vast majority of couriers who carry goods like iPhones and other electrical /catalogue items that are frequently stolen.

Basically, unless you only deliver non-theft attractive items 100% of the time i.e. newspapers,  a policy with this restriction will not be suitable for you!

Weight restrictions e.g. ‘£15.00 per kilo’

Courier insurance policies can also include weight restrictions for example ‘£15.00 per kilo’ meaning that you will only be paid out a maximum of £15.00 for every kilo of goods after you have paid your excess.

This is fine if you only deliver cheap heavy goods but many products such as mobile phones, clothing and jewellery etc. are often worth much more than this. In the event of a claim, a policy like this would therefore leave you significantly out of pocket.

Vehicles must be dual manned

Some policies also state that a courier vehicle needs to be ‘dual manned’ or occupied by two people at all times (i.e. one to drive and one to deliver) for goods to be covered under your insurance. Unless you feel that this is a practical or profitable way for your firm to operate, we advise that you steer clear of policies like this.

As with all types of insurance, always check your policy thoroughly for any exclusions which may make it unsuitable for your circumstances.

Alternatively, for complete peace of mind you can visit a specialist broker like Insure Courier and receive expert advice on all your insurance needs 0333 202 3172.

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