As is often the case for most insurance policies on motor vehicles for personal use, young drivers will likely be hit with higher policy prices when looking for work-related and self employed courier insurance. Statistical modelling shows that drivers between the ages of 17-24 are more likely to be involved in accidents on the road, resulting in higher claims within this age bracket. Because drivers in this age range will undoubtedly have less experience than those in a higher age bracket, this is generally true. As a result, courier driver insurance for those under 25 can often lead to quite high rates for young drivers.
Would any driver courier vehicle insurance be beneficial?
If multiple drivers use the vehicle being used, as is likely the case with a commercial vehicle, then having a driver on the courier insurance policy with a decent history over the age of 25 can nullify the cost somewhat. This is dependent on actual usage, though, as it’s considered illegal to name a more experienced driver for shared usage simply to bring a premium down without that claim being valid.
If the driving responsibilities of a vehicle are shared, however, this could bring down the price of having a younger driver on a courier van insurance policy. It’s also worth speaking to the courier insurance policy provider to see what different levels of coverage they can offer to decrease the price.
What type of courier insurance policy best suits your needs?
A more basic courier insurance package may be appropriate if coverage is at a premium due to the drivers on it. Another way to manage the cost is by securing your vehicle. Because couriers transport goods of value, vans and vehicles used in the industry are a hot target for thieves, and insurers know this.
By making sure you have alarms, immobilisers and tracking devices recognised by your insurer, you can bring down the overall cost of a policy, regardless of whether you choose a standard courier insurance policy or a courier van insurance policy with goods in transit cover.
Did you know that it’s possible to reduce the cost of your courier driver insurance?
Improving the level of security of your vehicle when parked at night can also help with the cost of your courier insurance policy. A locked garage will obviously help convince your insurer that the vehicle is safe. Another influence on policy cost is mileage.
While it goes without saying that a successful courier vehicle will likely rack up the miles as more couriering equals more business, being vigilant about bringing your annual mileage down can help have a similar effect on your courier driver insurance policy cost. To an insurer, the simple equation is more miles on the road equals more likelihood of an accident, so it’s wise to attempt to manage this effectively.
Take time to find the most appropriate courier insurance policy
It’s true that young drivers, either fairly or unfairly, often have to pay a higher premium than more experienced drivers. Because of this, the methods shared above, as well as others, can help bring down those eye-watering costs and help you get out on the road doing business.
Young drivers can also be named on our courier vehicle insurance policies with accompanying drivers over the age of 25, allowing them the same flexibility as other employees.
If you need courier coverage for a driver under the age of 21, speak to an Insurance Revolution advisor, and we help you find the most appropriate courier insurance policy to suit your needs. You can request a courier policy with hire and reward insurance online quote by completing our simple form.