Low cost insurance is offered by many different insurance companies. However, low cost does not always mean that your van courier service will be adequately or legally covered.
Courier vans driving on public roads in the UK have to be covered by appropriate van courier insurance; this usually means it has to include Goods In Transit cover.
Any goods which are transported or carried for payment or reward need to be insured. There are three different types of Goods In Transit insurance which are offered by the majority of insurance companies.
The basic level is a 'single package' cover. Meaning exactly what it says, only one packet is covered for the time it is onboard the van.
The next level is cover for each individual vehicle. This may be very useful for those who have a fleet of vehicles, particularly if you regularly carry dangerous goods.
By restricting the transportation of dangerous goods to one vehicle means that the vehicle can be insured appropriately - While the remainder of the fleet can be insured at a lower premium. If this type of scenario applies to your business it is advisable to speak with the courier van insurance company to discuss the options available.
A further option of having each consignment is also available from many insurance companies. The cover can be short term to provide insurance cover for the duration which the consignment is onboard. Check with the insurers to see whether they offer this option.
Having a 100% All Risks cover included within the Goods In Transit option will provide cover should the goods be stolen or damaged while they are in transit and cover should the goods be damaged which is caused by an accident while they are in transit.
All risks options are not generally included with a Goods In Transit policy they are counted as optional extras for which additional costs will be incurred due to the higher amount of cover they provide. This type of option usually comes with strict restrictions and exemptions. It is therefore wise to discuss exactly what is and isn't covered and read the schedule and policy very carefully when it arrives.
In order to provide appropriate cover the insurance company will need to be informed of the type of goods you will be carrying. If you have been given an undisclosed parcel, packet or consignment it is your responsibility to inform the insurance company.
Failure to do so may make your insurance invalid or may mean that should you need to make a claim goods which are considered 'target goods', those which are a greater risk of being stolen such as electrical goods and computer parts, you will only receive 50% of their value.
All goods leaving the country will have to have an export declaration. There are very strict controls as to the type of goods which can be taken abroad. Speak with the courier insurance consultants if you are in any doubt as to whether the goods can legally be transported out of the country.
Author Resource:-
Paul Headley is a specialist insurance article writer. Staveley Head are a leading UK insurance broker for
courier insurance
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