Which Type of Insurance Do I Require to Be a Courier?

Gone are the days when people use courier service for sending documents or papers as almost all the parts of the world are using email for this. However, the courier service is now majorly used for online buying and selling purpose through e-commerce platforms and food delivery apps. These delivery drivers or couriers deliver purchased items (including food) efficiently and quickly. In this way, seeing from a distance their job looks easy, but it is not true.

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Learn more about Marine Insurance

This is because there are many things one needs to sort out to become a courier as this is also one's own business. One of these things is insurance. A courier needs to protect his/her business against various unexpected losses and comply with various legal needs.

Here we are discussing the type of insurance that one needs to get to be a courier:

  • Public Liability Insurance: As a courier, you have to deal with the public every day, which means that there are chances that you injure some people or damage the property of some third-party by mistake. If this happens, a compensation claim can be made against you. Compensation claims can be very expensive and if the claim is for injury to a third-party person then it can include some additional expenses as legal cost and loss of wage. However, if you have taken public liability insurance, then you can get financial help in many such issues. Your insurance provider can as well defend the claim for you and you will not have to deal with large paperwork and you can concentrate more on running your business.
  • Insurance for Goods in Transit: When you transport the property of someone else, then it is your responsibility to deliver it in intact shape and style. This is because any damage or loss to it can make you responsible for it. However, goods that are in transit are prone to damages so this type of insurance is made like a marine insurance policy, cargo insurance, etc. Since it is not practically possible to get insurance for every good that you carry, so most of the goods insurance policies have a limit. This limit restricts the maximum value of every item that you carry as a courier and the approximate combined value of various items in every consignment. It is necessary to ensure that you choose the right limit so that you are not uninsured when a loss occurs.
  • Vehicle Insurance: Let us now talk about the most important element of your courier insurance plan, vehicle insurance. This is the vehicle that you need to transport your goods. Whether you use a bike, a car, or a van, a normal vehicle insurance policy will not be sufficient for it. In a normal third-party insurance policy, your vehicle is covered against losses or damages to third-party property or person. Whereas in a comprehensive vehicle insurance plan coverage for third-party liability as well as own vehicle and self-injury are as well covered. On the other hand, a courier insurance policy is a special type of insurance policy that is designed to perform this job effectively for providing appropriate insurance for your commercially used vehicle.
  • Liability Insurance of Employer: Even though couriers are considered as self-employed people, but if you have any employee under you, then it is recommended to have employer's liability insurance. You should have this insurance even if you have employees on a casual or temporary basis. Liability insurance of the employer provides coverage to the employees in the same way as public liability insurance. The only difference is it provides coverage for the employees rather than the general public.

The Final Words!

Since the jobs as a courier rising in recent times, so insurance plans like this are required more. However, many people start working as a courier but do not purchase a courier insurance plan and hence get into trouble. So it is recommended to opt for a suitable courier insurance plan and get yourself ready for transporting goods.

Written By: PolicyBazaar - Updated: 17 November 2023
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