Strictly speaking, no. As a courier, you require a number of specific insurances in order to do your job properly, which can be arranged under one umbrella ‘Courier Insurance’ policy, but can equally be purchased separately.
Combining all your insurances as part of one Courier Insurance plan can be beneficial in that everything you need is covered under one, simplified policy which cuts down on paper work and also means that you only have one annual renewal date to deal with. It can also be more cost effective.
A Courier Insurance policy can essentially include whatever you want it to, but will typically consist of the following core components:
- Goods in Transit Insurance – Provides cover for those who carry other people’s goods.
- Employers’ Liability Insurance – Which is compulsory for anyone who employs staff and provides legal protection if any of your employees are injured during the course of his or her work.
- Public Liability Insurance – Provides protection in case a member of the public suffers an injury, financial loss or damage to their property as a result of your business activities.
- Hire and Reward Insurance – Is a class of insurance which allorws drivers to legally transport other people’s goods in exchange for a fee.