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Motor Trade Road Risks, Courier Insurance, Commercial Vehicle:
Assumptions

Our online quotation will be based on the following assumptions:

  • You are a FULL TIME courier
  • Your business is based and operates solely in the UK
  • All named drivers have a full UK driving licence
  • All named drivers are between 25 and 70 years of age and have been resident in the UK for at least 5 years
  • The vehicle is not used to carry dangerous goods or visit dangerous premises (airside, nuclear installations etc)
  • The vehicle is not Q-plated, imported or Left Hand Drive
  • The vehicle has manufacturers standard security
Assumptions

Our online quotation will be based on the following assumptions:

  • Your business is based and operates solely in the UK
  • All named drivers are full time private or public hire taxi drivers and the vehicle is used predominantly for that purpose
  • All named drivers are between 25 and 69 years of age and have been resident in the UK for at least the last 5 years
  • All named drivers have a valid full UK driving licence and have held a taxi licence for at least 12 months
  • The vehicle is valued less than £40k
  • The vehicle is not Q-plated, imported or Left Hand Drive
  • The vehicle has manufacturer’s standard security
Green Van
Goods in Transit

Switch your Goods in Transit insurance to ChoiceQuote and save money today!

  • Cover from just £3.27 a week*
  • Cover tailored to suit your business
  • UK & European cover can be arranged
  • Instalments available
  • Quotations over the phone

*for minimum level of cover

Goods in Transit Insurance – Information

What is goods in transit insurance?

If you transport goods as part of your business, they could be liable to loss, damage or theft.  Simply put, goods in transit insurance provides cover for the goods or products your business transports from one location to another as part of its trading operations.

It could only take an emergency stop in a vehicle to send tens of thousands of pounds worth of products tumbling into each other and causing irreparable damage.  Or the security of your vehicle might be compromised while goods are transported between destinations, with items stolen as a result.

Goods in transit insurance is specifically designed to cover you in events of this nature (subject to limitations). You need this cover in addition to your standard commercial vehicle insurance policy, which will not cover the items you transport, only your legal obligations for the vehicles on the road.

What is covered by goods in transit insurance?

We can offer goods in transit insurance cover for carrying other people’s goods for hire or reward, or haulage use, or for your own items.

A goods in transit insurance policy can be tailored to cover the specific items you are transporting.  Individual items can be specified on policies, or cover purchased for all risks for different items in transit.

How much does it cost?

The goods in transit insurance cost will vary dependent on the items transported, distances travelled with goods etc.  However, goods in transit cover starts from as little as £3.27 a week – when you balance that against the cost of the items you are transporting, you can see that getting a goods in transit insurance policy is eminently affordable.

Who should buy a goods in transit insurance policy?

This type of insurance is important for any business that transports goods as part of its operations.

It is particularly important for couriers, for example.  Courier van insurance is clearly necessary to insure against damage to vehicles, property or injuries caused to individuals while you are out on the road; however, you also need to insure the items you are carrying against damage, too.

In fact, this is often a necessity – your customers will likely need the items you are transporting for them to be insured, to give them peace of mind that they won’t be paying out in the event of any incidents.

Additionally, if you are a tradesman who needs to transport their tools to and from places of work – plumbers, plasterers, gas fitters, painters and decorators or builders, to name just a few – you may  appreciate the peace of mind that our optional tools cover can offer.

If you rely on tools carried in a van to conduct your business, any damage or theft of these items could lead to an inability to carry out your work successfully, costing you money in the process in lost work and in replacing the items needed.  Tools cover can provide additional protection against loss or theft of these items.

A quick guide to Goods in Transit

No matter whether you are a solo, self-employed courier or one among an entire fleet, the goods that you transport are critical to the success of your business. Keeping them safe when on the move is crucial, too, and often the contents of a vehicle might not be covered under standard policies.

To help ensure that your deliveries arrive safely – and to help reclaim costs incurred if, for whatever reason, they do not – goods in transit insurance may well be a necessary inclusion.

The risks

There are four main risks that could affect a courier’s cargo: damage or destruction, loss, theft and delay. In the instance that goods being carried belong to other people or businesses, such risks suddenly become a lot more expensive to consider for a courier. If anything should happen then you will often be expected to bear at least some of the cost, depending on the terms of the contract set out between the consigning owner of the goods and the carrier.

These risks will affect different cargo in different ways. For example, theft poses a higher risk for high-value equipment, such as expensive electronics like televisions or computers, or smaller items like jewellery or watches. Any damage or loss will similarly lead to higher replacement costs.

Other goods may require a timely delivery, whether because they are perishable or because the recipient requires them at a certain time. Not having a shipment in time could lead to lost profits or, in some instances, lost business further down the line, and couriers can be held responsible.

Lost and misdelivered shipments pose a risk, even if they are just mislabelled, delivered to the wrong address or even signed for by the wrong person.  If goods are never seen again, couriers can be held liable for their disappearance.

While it is not a legal requirement to have goods in transit cover – as we mentioned, courier insurance is all that is required – it can be a wise move. Without it, some companies may refuse to do business with you for fear of losing out in a worst-case scenario. Couriers, too, do not want to find themselves in a situation where they are financially culpable for an unlucky situation.

How to minimise them

Beyond the basics – keeping your vehicle locked when unattended, for one, or just driving carefully – there are a few specific steps you can take as a courier.

Handling goods safely

Making sure that precious and fragile items are packed with sufficient protection and secured in transit is an obvious precaution. Though packaging is usually the responsibility of the sender in most instances, loading and unloading items from a vehicle is definitely your responsibility.

Keeping track of your consignment

Now offered as standard by most couriers, accounting for your cargo at multiple stages of the journey can ensure that it reaches its final destination. If anything goes wrong, too, it might be easier to see where problems have occurred.

Making your vehicle secure

Fitting your vehicle with good alarms and tracking devices can serve as both a deterrent to theft and a good indicator to your insurer that they can cover you. Some take the step of installing cameras or telematics devices, which can also take the sting out of insurance costs.

There are other steps to take that can depend on the type of consignment you will be dealing with, particularly when it comes to making sure goods are kept in ideal conditions.

Risks beyond the consignment

Goods in transit insurance does not cover every last mishap that might occur whilst goods are being delivered. A few of the most common risks faced include:

Dealing with the public

Whether your deliveries are to residential addresses or business premises, coming into contact with the general public is an inevitable part of being a courier. Public liability insurance can cover you against claims made for injuries to people or damages to property incurred while you carry out your work.

Employing others to make deliveries

Whether you are employing other couriers to make deliveries, work in logistics or just make the tea, it is highly likely that employer’s liability insurance is a legal requirement. This protects against claims made by employees or their families following injury, illness or fatality sustained while in work.

Making business decisions

There are other, more specialist forms of cover available depending on what kind of business you run. One common choice is directors’ and officers’ insurance, which can cover claims made against you following decisions you have made while in charge of a company.

Securing insurance

Once you have decided what sort of insurance you might need, and the additional cover that you think would be wise to include, there are a number of brokers who can find the best coverage for you. Some will allow you to pick and choose the coverage you need, while others can offer a more comprehensive service.

How can I get a quote?

Our specialist team are on-hand to run through the requirements for cover you have for goods in transit.  Call us on 0800 440 2180 or request a call back at the top of this page. We will be pleased to offer a competitive quotation based on your business’s individual requirements, ensuring you get affordable cover that meets your needs.

Testimonials

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Ms P Godfrey
5 out of 5
Product: Goods in Transit Insurance – Information

Offered excellent service.

Narpal
5 out of 5
Product: Goods in Transit Insurance – Information

First class, I have in fact given your details to several friends of mine.

Mr Stokes
5 out of 5
Product: Goods in Transit Insurance – Information

Have always been satisfied.

John Hurrell
5 out of 5
Product: Goods in Transit Insurance – Information

Very satisfied with the overall experience

Paul Allen
5 out of 5
Product: Goods in Transit Insurance – Information
Goods in Transit Insurance – Information
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