Want to save on your courier insurance cover? Then read on… Courier cover costs have been on the rise this year thanks largely to the changes in the Ogden Rate, increases in Insurance Premium Tax (IPT) and inflation which have all pushed up premiums. There are though ways you can beat the price hikes, and in this latest blog from Coversure Redditch – the van and courier insurance specialists – we’ll share our top ten tips for saving on your cover. Of course, if you really want to save time and money on your courier insurance quote then don’t read this blog, call Coversure Redditch now on (01527) 757 585 or click here for a quote.
Raise Your Excess
If you have a good claims record then raising your excess – the amount you pay in the event of a claim – is a simple way to save on your cover. Raising your excess can make quite a difference to costs and if you have a history of not making claims then it won’t make any difference to you either.
Use An Independent Broker
Courier insurance isn’t like car or home insurance or one of the other forms that can be bought off the shelf from a price comparison site. No, to get the best deal on this type of cover takes specialist knowledge and contacts with the big insurers. And let’s face it, it’s vitally important to get the right policy as this isn’t just protecting you, it’s protecting your livelihood. An independent broker such as Coversure Redditch cannot only do the shopping around for you but they can also gain access to policies that aren’t on price comparison sites and get you a better deal. We can even offer new couriers an introductory discount of up to 65% and free goods in transit cover*.
If your business has 3 or more vehicles – be they vans, cars, motorbikes or a mixture of all three – then you can get courier fleet insurance. Fleet cover not only reduces the cost of cover per vehicle, but it will also save you on administration time and give you great flexibility in terms of your drivers and your vehicles.
Named Driver Policy
A named driver policy, as opposed to any driver policy, can save you a great deal of money. Any driver cover is useful, but naming drivers – however many that may be – can reduce the level of risk in the eyes of the insurer and therefore reduce your premiums.
Radical one this, but one that can save you significant sums of money in the mid-long term and not just on your courier insurance. Electric vans are the near future for couriers. As the government pours more tax on to diesels and other cities follow Oxford’s lead in banning diesels altogether, this is a switch that all couriers are going to have to make, so why not start saving now? Also, there’s undoubtedly going to be yet another tax hike on diesels in the Budget so now’s the time to change. On the bright side these vans are cheaper to run – around 2p per mile versus 10p per mile for diesels – cheaper to repair, are more reliable, come with subsidies making them cheaper to buy and can give you cheaper courier or van insurance too.
Fitting a telematics system – a computerised vehicle tracker – can help reduce cover costs. Telematics have been proven to reduce accidents – a sure fire way of reducing your insurance costs – as drivers tend to drive more safely when they are being monitored, and if vehicles are tracked they are easier to recover if stolen. These systems are easy to fit and can cost as little as £15 a month – an expense that can be easily made up in fuel savings that telematics bring.
Check The Policy Small Print
Make sure you know what you’re getting. Some policies may come with things such as carriage of dangerous goods or European cover. If you don’t carry these goods or venture abroad, then what’s the point of paying for the cover? This is another good reason to use a broker as they will ensure you get the cover you need – nothing more, nothing less.
Simple security measures – such as parking your van somewhere securely overnight – can help reduce costs. Insurers are also taking into account the fitting of dashcams and other in-vehicle cameras as the footage can prove fault in the event of a claim.
Many insurers will offer you a premium discount if you pay annually rather than monthly, so make sure you ask about this when you renew your policy.
90% of all accidents are attributable to driver error, which in turn means that 90% of all vehicle claims are attributable to driver error and nothing will push up cover costs like a claim. By investing in driver training you can cut the risk of an accident, cut the cost of courier insurance, reduce the chances of being sued for damages and keep your vehicles where they belong – on the road.
Like Some More Help?
Well we hope that’s given you some ideas as to how you can cut your courier insurance costs.
If you would like to know more about saving money on your courier insurance or would like some help getting the cover that’s right for you, then please contact us. You can call us free on Redditch (01527) 757 585, email us by clicking here or get a courier insurance quote here.
*Terms and conditions apply