November 16, 2020
Reliance Partners is one of the nation’s leading experts in courier insurance. There are unique needs and challenges facing couriers in the marketplace has changed significantly over the past few years with the growth of the e-commerce marketplace. Reliance has programs specifically tailored to couriers or last mile/final mile delivery companies.
Reliance understands that no two couriers are alike and the importance of purchasing cargo that will adequately cover an exposure. Reliance also has access to multiple Hired & Non-Owned Auto programs and Crime coverage for operations who might serve as a bonded courier. Reliance Partners can even provide options in higher risk large metropolitan areas such as New York City.
Courier companies occupy a sensitive and strategically important niche in the business sector. Seeing as they operate in the last mile of product delivery, they are the link between enterprises and their customers. This link needs to be protected thoroughly. At Reliance Partners, we offer this type of protection through courier insurance.
Courier insurance covers a person as they deliver goods to a customer’s drop off point on behalf of an enterprise. This coverage provides protection against loss, theft or damage for goods in transit. As a courier, this insurance is highly necessary.
We provide 3 main levels of courier insurance.
1. Third Party Only (TPO)
This is the basic type of courier insurance as required by the law. Third Party Only (TPO) covers third-party liabilities in case an accident occurs.
2. Third Party Fire & Theft (TPFT)
This is a mid-level type of courier insurance. It covers liabilities as well as fire and theft that could occur upon your courier vehicles.
3. Comprehensive courier insurance
This is the highest level of coverage for couriers. It covers all basic elements, fire, theft as well as your vehicle. With comprehensive insurance, you are covered and protected against any eventuality in your courier business.
How we help you to pick the best courier insurance policy
Identification of the most appropriate policy
Client satisfaction is our main objective at Reliance Partners. As such, we help you to pick the most ideal courier insurance policy for your enterprise. Our insurance officers normally provide a collection of guidelines that can help you to pick the most ideal commercial courier insurance policy for your business.
Accurate registration name
Depending on the size of your courier company, you can either register the insurance in your own name or that of your firm. We help you make the distinction so as to register correctly.
No claims bonus
In the courier insurance sector, there is a factor that is known as the no claims bonus. This bonus can be discount protected or non-protected. Each type of protection fits a specific enterprise circumstance. As such, we can help you to pick the level of protection which is ideal for your courier company.
Your courier company can have 1 or more vehicles for product delivery. We ascertain and collect data about this number as you buy some courier insurance. For clients that have more than 5 vehicles, we routinely recommend fleet insurance.
Additional protection for your courier company
Some locations are regarded as high-risk environments for couriers. Examples of these are inner-cities and conflict zones. In such areas, we often recommend extra protection over and above courier insurance. For this purpose, we offer:
Excess protection: This is a form of coverage that protects your enterprise from excess if you are involved in an accident.
Breakdown cover: Sometimes, your couriers may get stuck by the roadside. This can be caused by a flat or mechanical problem with the vehicle. In such cases, you need some protection to cover the inconvenience of delay in delivery. Breakdown cover is applied in this type of situation.
Public liability insurance: This is a form of protective coverage for you in case you have to pay some compensation due to legal liability. Examples of such include compensation for bodily injury, death or damage to Third Party property.
Goods in transit coverage: This is some protection offered to couriers in case of damage, loss or theft of the products being transported.
Employer’s liability: For some types of businesses, this type of coverage is necessary. You may need to invest in some employer’s liability insurance so as to cover the costs related to compensation for employee injuries.
Our tips on maintaining courier insurance
As you invest in some courier insurance, we go the extra mile and provide some tips on how to maintain it.
Buy a policy with a higher initial premium
If you are investing in some courier insurance for the first time, go the extra mile and buy a policy that has a high initial premium. After that, you can drive your vehicle carefully so as to experience the No Claims Bonus. This will eventually reduce your premiums to an affordable, manageable level.
If you are involved in an accident, report it immediately
You may get involved in a minor or major accident while delivering goods or services. If this should happen, make sure to report it immediately. This reduces the overall cost of the insurance claim.
Specify that you need a free replacement vehicle
As you invest in some courier insurance, make sure that it includes a free replacement vehicle. This maximizes convenience.
Do not miss any monthly insurance premium payments
After buying some courier insurance, make sure that you do not miss monthly insurance premium payments. This will make you incur additional charges or fees. In addition to that, it will negatively affect your credit rating.
Last but not least, honesty is the best policy. Be forthcoming with your claims history as well as penalty points. If any irregularity or dishonesty is noted, any claim that you make could be invalidated.