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A Guide To Courier Fleet Insurance
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Courier Fleet Insurance is designed to help lower the cost of coverage for a business that has multiple delivery drivers working for them using company vehicles. This type of financial protection also helps organise the cover, so filing claims and paying premiums should work out easier than having to manage multiple policies. The vehicles may be cars or vans, or a mix of both. A huge demand exists for courier fleet van insurance, propelled by ever increasing trend in online shopping. Courier fleet insurance provides additional cover not included in standard fleet insurance, the additional cover, is for the hire and reward element.
The key question is what exactly is courier fleet insurance? This is a type of fleet insurance policy that is designed to insure a fleet of courier vehicles (as opposed to a company car policy, for example)
Which is Best Courier Fleet Insurance OR Insuring Each Vehicle Individually?
In most cases, a fleet policy will be more affordable than insuring the vehicles on separate polices. The break even point is normally 3 or more vehicles. Fleet cover should be less expensive for bike courier insurance, van courier insurance or car courier insurance. Always compare both options, but taking out a fleet courier policy to cover all vehicles may be more cost effective for your business.
What is Courier Fleet Insurance?
There are two parts to what is courier fleet insurance.
How Much Does Courier Business Fleet Insurance Cost?
The cost will be dependant upon a number of factors, some impacting cost substantially more than others.
The level of cover required will have the most impact on cost. Similar to car insurance, you can choose from third party, third party with fire and theft to the top tier cover referred to as comprehensive cover. In addition to providing cover for a third party vehicle and property, comprehensive covers damage to your own fleet
The number of vehicles in the fleet also plays an important role in arriving at a final premium. A large fleet equating to a higher premium, as the risk to the underwriter is increased. Naturally, the insurance category or categories that your courier van fleet falls into will also be a significant determining factor.
How To Save On Courier Fleet Insurance?
Saving money with courier fleet insurance is possible by lowering the risk that you pose to the insurance company. Use vehicles in the lower insurance categories, which will cost less to insure. If possible, avoid an any driver policy and if possible opt for named drivers. A named driver policy should be cheaper than an any driver fleet insurance policy.
Did you know? A courier fleet policy can start with just 2 vehicles, more can be added as your business grows, normally additional vans or cars will be added at a discount.
What Is A Commercial Hire For Reward Policy?
This type of policy is a business vehicle insurance. It has the same levels of cover as non-commercial policies, but makes it possible to be paid to operate the vehicle and make a profit at it. The levels of cover include Third Party Only, Third Party Fire and Theft, and Comprehensive.
The types of commercial hire for reward depends on what is being delivered. There are separate policies for food deliveries along with parcels. The reason for the different types is related to the risks involved.
The type of policy is further broken down by the type of vehicle being used. There is car courier insurance along with one for trucks, vans, motorcycles and scooters. Each one has a level of risk associated with it, so the costs are dependent on the type of vehicles being covered.
Courier Fleet Insurance Additional Options
It is possible to extend your fleet policy with additional cover, as listed below. Some may be already included, but you will need to check the policy conditions.
Get Multiple Quotes For Courier Fleet Insurance
We have partnered with Quote Zone, who can provide you with a range of courier fleet insurance quotes from a panel of UK specialist Insurance brokers. To get started, select the Blue quote button After providing some information about your business and the level of cover you want, you’ll then have access to your quotes.