A definition of Courier insurance (a legal requirement for people in this line of work) is a commercial vehicle policy that covers for the carriage of other people’s goods for hire and reward on a multi drop basis.
If you are not just transporting your own tools & equipment or carrying goods that are to be sold elsewhere but transporting other people’s goods and are delivering them directly, you will need a specialist courier insurance.
As with most types of motor insurance there is the option of Comprehensive, Third Party, Fire & Theft or Third Party Only cover and you may choose from insured only, named drivers or any driver cover depending on the type of business you are running.
A key aspect to your courier insurance might be ”Goods in transit” cover. This will give you and your customer’s peace of mind. It may also be a requirement of your employer so that they know their goods are covered. This type of cover generally ranges from £10,000 to £50,000.
Introductory discounts may be available from your qualified insurance intermediary.
An experienced driver can receive up to 60% discount for their courier insurance with proven driving history. Think Insurance may also be able to give discounts to those that can demonstrate no claims history on other policies.