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Haulage insurance vs. courier insurance – which is right for your business?

Haulage insurance vs. courier insurance – which is right for your business?

There are some differences between haulage insurance and courier insurance, even though, on the face of it, they seem to be for the same thing. 

What is Haulage Insurance?

Haulage insurance is generally aimed as businesses and individual operators who run larger vehicles – in excess of 3.5 tonnes.  Generally speaking, haulage companies operate vehicles which transport large loads of goods to a fixed destination.  Haulage insurance covers a number of risks associated with that activity.

What is covered?

Vehicles

For most haulage operators, their most significant investment is likely to be their vehicles.  Haulage insurance will cover these against loss or damage.  Haulage insurance is intended to protect against loss or damage to the vehicle.  Of course, you require insurance which protects other road users in the event of an accident, that type of policy though would not necessarily cover damage to your vehicle by other means.

Goods in transit

Anyone who is involved in the transportation of goods, especially those which belong to someone else, requires cover for goods in transit.  Again, damage to the goods which a vehicle is carrying is not going to be covered under a policy set up to deal with the risks involved in driving.

Public Liability

A haulage insurance policy should also cover you against risks to third parties who may be injured or have their property damaged in connection with your business operations (this may happen during loading and unloading, for example) as this can be an exclusion under certain motor policies.

What is Courier Insurance?

The main difference between courier insurance and Haulage insurance is to do with the type of deliveries made.  As mentioned above, hauliers tend to transport large loads to a single destination, often over long distances.  This, in many cases, would be as part of an ongoing contract. 

Couriers on the other hand tend to make multi-drop deliveries over a relatively small area and will not necessarily know what they are transporting or where they are delivering day to day.  The same basic risks need to be covered, the vehicle (or vehicles), Goods in transit, roadside assistance and liability.  This kind of multi-drop activity is usually viewed as being a higher risk than deliveries to a single destination.

Why use GM insurance to arrange your cover?

GM Insurance is a specialist broker with extensive experience and knowledge in both light and heavy haulage.  We can arrange insurance around the specific needs of your business and your fleet.  We can arrange cover for specialist vehicles such as waste/recycling vehicles, refrigerated lorries/trailers, cement mixers and volumetric lorries, for both UK & overseas use if required.

For more information on Haulage Insurance, or to discuss your specific cover needs, get in touch.

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