In the United Kingdom, courier service is thriving. This is because there are many items sent to and from the United Kingdom every day. Successful courier services offer same day and next day services. If in this case, you want to get a slice of the market, it is time to consider one requirement that is necessary to operate – courier insurance.
Before discussing the insurance, you have to understand courier service. Courier service lets someone send a parcel from one location to another. The good thing about this service is senders can book and pay online. With the modernization of courier services, senders have the capability to track the parcel. Couriers are beneficial for people that sell online products.
There are different types of courier service in relation to the mode of transportation. There are bicycle couriers, which are common in metropolitan cities. Bicycle couriers are preferred by courier companies because it is not deterred by parking limitation and unlikely to experience a traffic jam. There are motorcycle couriers, which are common in Europe. They are also called dispatch riders. Finally, there are van couriers. Van couriers carry and deliver parcels or packages to distant places.
Whatever courier service you are offering, you need to make sure that you get the right insurance for smooth operation. The coverage will depend on the type of the courier service. Here are things that you should know about courier insurance and how it can benefit you:
For vehicle cover
Every vehicle on the road transporting goods needs insurance. More time on the road will increase the risk of unfortunate things. If there are road accidents, depending on your policy, the insurance company can help with replacement vehicle or its repair.
For goods in transit cover
When you are carrying and delivering goods, it is imperative that you ensure it is safe. The insurance should cover lost, damaged or stolen cargo while in transit. When these things happen, the company will replace them after making a claim. The rule of thumb here is the more valuable your goods are, the more insurance you will need.
For warehouse cover
Most definitely you have a warehouse where you store all goods before and after transit. You have to secure a warehouse cover so in cases of fire, flood and other fortuitous events, the goods stored are replaced.
For delivery outside the United Kingdom
There are insurance companies that offer European cover. If your courier service transacts business outside the United Kingdom, you need to ensure that the goods are safe. This coverage should cover loss or damage abroad.
In cases of accident
Employer’s liability insurance is a standard insurance for business owners. This is to ensure that accidental injuries or damages are covered.
In cases of breakdown
There will be losses if your transport breaks down. This can be avoided with the help of breakdown cover. If you have this insurance, you will be assured that there is a swift response to keep your vehicles on the road.
For more information, it is crucial that you speak to the experts in courier insurance. Remember that insurance can help you. It is something that you should consider.