As a new courier business, you’ll most likely be familiar with a range of insurance policy types. In fact, you’ve probably been doing some extensive research into the type of courier insurance that’s right for you and your business.
We sat down with courier insurance experts, Insurance Revolution, to talk about courier fleet insurance, and the benefits it could bring to your new business.
If you own a new courier business that uses more than one vehicle, chances are you would benefit from taking out courier fleet insurance. Courier fleet insurance allows you to cover all of your vehicles with one policy, making it easier for you to keep track of your insurance policies and save money on your premiums. You can also help your fleet insurance by making sure you hire solid and professional drivers through software like https://www.tenstreet.com/ so there is less chance of a rogue driver risk which can push up premiums.
Taking out a range of separate insurance policies for each one of your courier vehicles may not only prove to be costly, it can also result in a lot of paperwork lying about the office, which can be a job in itself to keep track of. That’s why loads of new businesses are choosing to take out courier fleet insurance; it can save a lot of time as well as money.
If you only use one vehicle in your business, we recommend going for an individual policy instead. There are wide ranges of individual policies that exist, and which one is right for you depends on various factors. Some examples of individual courier insurance policies include courier van insurance, courier car insurance and goods in transit insurance.
If you choose an individual courier vehicle policy, you’ll just need to choose the level of cover you think is necessary (e.g. third party only, third party, fire and theft, or comprehensive). Remember: just because a level of cover comes out as the cheapest, does not mean that it is necessarily the best value for money.
There is a range of benefits to having courier fleet insurance. Having just one renewal date to remember, rather than having to put several in your diary, is a huge plus. This makes it far easier to make any alterations to your policy, as you’ll only have one point of contact to deal with.
Most courier fleet insurers will allow you to insure a wide range of vehicles under one policy, so these can be various sizes of cars or vans. However, many insurers do have a policy that states that most of the vehicles you insure have to be vans, so it’s worth checking this before you commit.
It’s also worth keeping in mind that your no claims experience will affect the cost of your policy, so the fewer claims you make on your courier fleet insurance, the lower your insurance premiums will be. Basically, you’ll be rewarded for managing your fleet well over time.
If you want a good value insurance policy, and you don’t want to go through a company that will only offer you quotes from one insurer, it’s worth using an insurance broker to ensure you get the best deal.
However, it’s important to check how long the insurance broker has been in business for, and that they are a genuine company with a vast amount of contacts within the insurance industry. This means they’ll be able to provide you with a good selection of quotes, so that you can find the policy that’s right for you.