Hire and Reward is a class of insurance use which allows you to legally carry other people’s goods in return for payment. Hire and Reward Insurance is essential for couriers, hauliers, taxi drivers, furniture removers and anyone who carries people or the property of others in exchange for a fee.
Indeed, having Hire and Reward Insurance is vital for people in the transportation industry, as you will not be covered in the case of a claim if you are involved in an accident during the course of your work. More importantly, it is a legal requirement and you will be charged with an offence if you do not have Hire and Reward while working as a courier or haulier.
However, even if you only carry goods you own as part of your job, you will still require business use insurance. This class of insurance is called Carriage of Own Goods and is essential for those who use their vehicles to carry their tools, equipment and materials, for example, builders, electricians and gardeners.
Both Carriage of Own Goods and Hire and Reward Insurance will cost more than the most basic insurance policies, as insurers unfortunately view those who use their cars for business and pleasure as a greater risk. However, Insurance Revolution specialises in this sector of the insurance market, so can find competitive rates for our customers where other brokers can’t.