2) Are you a hobbyist?

Don’t be fooled into thinking that trader’s insurance is going to be too expensive if you’re a part-time trader or someone who deals in vehicles as a hobbyist. It could cost you a lot less than you think, and can be significantly less than taking out temporary cover when you need it.

Whilst most insurance companies will want you to be able to demonstrate that you are part of the trade for at least some of your working hours, you can hold another occupation too. All you need to prove that you are part of the motor trade is proof, such as receipts. For example, these could be receipts for providing valeting or car repairs. Alternatively, you may have receipts from buying or selling cars. If your business hasn’t started trading yet, you may have a grace period to provide evidence. Speak to your insurance broker for more details.

3) Do you drive sports cars?

If you deal with performance and sports cars, check your policy covers you. Performance vehicles can be excluded from cover, so you’ll need to double-check before you buy or work on that Porsche or Ferrari. If you don’t and you’re not covered, it could prove to be a very expensive oversight.

4) Do you need to add extra drivers?

Adding extra drivers to your policy can be cheaper than taking out separate policies. It’s perfect if you have a partner or employ a team. Like personal car insurance, insuring under 25-year-olds can be expensive. Some insurers may not allow it at all. Speak to your broker for advice or to find an insurer prepared to take on younger drivers.

5) Is the pay-out sufficient?

Some trader’s policies use trade valuations if there is a claim. This pays out the trade value, not the resale value. If you’re buying and selling cars, this might be enough for the majority of vehicles you deal with. But if you’re dealing with classic cars or future classics, this could become a problem. If you need cover for vehicles in your workshop, for example for car repairs or valeting, you could also be faced with a shortfall if something happens to a customer’s car. If you want to be certain that you won’t be left out of pocket, speak to your insurance broker for advice.

6) Do you need cover out on the road?

Thinking carefully about what level of cover you actually need is a great way to get premiums down. If you’re not going to be hitting the road in a vehicle, you don’t need cover out and about. For example, if you’re a detailer and cars are delivered and collected from your business premises, you only need cover in the workshop. On the flip-side, you may only need cover for driving on the road, in which case you can save money by excluding cover within premises. If you need both types of cover, look for a combined policy.

7) Is accidental damage important to you?

Most policies automatically cover against fire and theft. But just like a personal motor policy, taking out comprehensive cover can give you extra peace of mind.

No matter how careful you are, accidents can and do happen even when a car is stationary. For example, you’re working on a customer’s car and a heavy box of tools falls and damages the bodywork. With accidental damage cover, you’ll have peace of mind you can pay for the repairs.

Trader’s insurance checklist for 2020 final tip 8) Do you need breakdown cover?

Finally, does your policy include breakdown cover? Buying it together with your trader’s insurance can mean cost savings, as well as giving you peace of mind you won’t have any unexpected bills. Whether you want to be covered for an accidental misfuel or you need home start, you can take your pick of a choice of breakdown options to suit every budget. If you’re trading cars in Europe, make sure you get overseas breakdown cover included.

9) Buy traders insurance from the experts for peace of mind and great value

It’s Easy2 find the right trader’s insurance when you get in touch with our specialist team. Our low prices and high levels of experience make us one of the UK’s favourite commercial motor insurance providers. Call 0800 917 9522, use this form to get in touch or get a quote today.

We hope you’ve found our trader’s insurance checklist for 2020 useful. We’re part of Park Insurance, the award-winning independent insurance brokers. As a result, we’re the ‘preferred broker’ for many national insurers. This means we can offer approved packages with great benefits and plenty of discounts.

As an online brand, our business costs are typically lower than many of our competitors. This allows us to pass on all the savings directly to our customers. We also operate a dedicated UK-based call centre so we can contact you to check all the details before you purchase a product. That means you’ll have peace of mind that you know exactly what you’re buying, with no nasty surprises in the small print.

Easy2insure is regulated by the Financial Conduct Authority, the UK’s independent watchdog. All of our staff members are CII-qualified and use their expertise and experience to guide you through every detail of your insurance policy.

Goods in transit insurance

As soon as a package, parcel or letter is handed to you, it is your responsibility until it is received and signed for at the other end. After the recipient has the package in their hand, it is no longer your responsibility. However, during the time when it is in your possession, you are fully responsible for its safety, and that means you’re also financially responsible for any losses due to theft or damage.

Effectively, the consignment is the property of someone else, so if it is damaged in transit, lost or stolen, they can claim compensation for the value of the package against you. Goods in transit insurance is, therefore, one of the most important insurance documents you can have as a self-employed courier.

It usually comes with upper and lower limits on the level of cover per consignment, so if you’re regularly transporting high-value packages (for example, if you have a contract with an art gallery and move paintings or works of art around on their behalf), you’ll need to increase your level of cover accordingly. What you don’t want is to be underinsured, as any claim against you for loss or damage of goods in transit will impact your finances heavily.

Public liability insurance

This may seem like a ‘belt and braces’ addition to the Goods in Transit insurance discussed above, but PLI gives you some extra coverage to protect you against compensation claims if a third party is injured or their property is damaged by you while you’re working. So for example, if you dropped a heavy package on the recipient’s foot, they could make a claim against you for personal injury compensation!

Public Liability cover means that you’re financially protected against the legal costs of a compensation claim for personal injury or damage to property. The insurance company would also defend the claim for you, so you could get on with your business rather than spending time dealing with legal paperwork.

Interruption of earnings insurance

Being a van courier has its perks. You’re your own boss, you can work whenever you want to, and you’re not tied to an office desk all day long. However, the reality is that you’re going to be working long, hard hours to earn a decent living. If you’re unable to work for any reason, you’ll quickly realise just how much of an impact it has on your finances.

Bear in mind that if you’re self-employed, you don’t have the usual entitlements that employed drivers have, such as holiday pay and statutory sick pay. If you fall ill or are injured and can’t work, your cashflow effectively dries up overnight. And if you’re the major earner in a household, that can affect everyone.

Interruption of earnings insurance means that you’ll have some money coming in while you recover, so you can be sure that bills such as rent and mortgage repayments, or other essentials are covered without you having to dip into an overdraft or max out your credit cards.

High risks goods cover

If you are regularly transporting hazardous goods then you must tell your insurance company beforehand. Failure to do so could invalidate your cover, leaving you severely out of pocket. Don’t forget that some insurers won’t cover very high-risk consignments such as chemicals or goods that require a special licence or certification.

European cover

If your bookings take you overseas, you’ll need to make sure that the insurance you have covers you for operating outside the UK. It’s also wise to make sure you’ve got full breakdown cover, preferably with a courtesy vehicle as part of your package deal. The last thing you want is to be left stranded with a broken-down van and unable to fulfil your clients’ requirements!

Planning a career change to become a self-employed courier? Talk to the professionals

If you’re not sure what kind of cover you need, the best thing to do is to talk to a professional broker who has experience in providing specialist cover for van couriers. They will be able to tell you exactly what you need, and find the best deal so that you’re not paying too much for your insurance package.

At Easy2Insure, we know how difficult it can be to find the right courier van insurance, especially when you simply don’t have the time to sit down and hunt for deals online. Instead, the simple option is to talk to us. Our experienced brokers know exactly what you’re looking for, and are able to put together courier van insurance packages that don’t cost the earth. It’s quick, simple, and easy to make sure you have all the right cover you need, so you can focus on building your business. Call us or use our online contact form to find out more.

When you work as a freelance courier, you can enjoy lots of benefits like the freedom to choose your hours. But when you’re your own boss, you also have to think about essentials such as what insurance you need. Without it, you could find yourself in financial hot-water if something unexpected happens. So, to save you time and money, we’ve put together this guide on freelance courier insurance and where to buy it at the best price.

What types of insurance do self-employed couriers need?

Some insurance is a legal necessity, and some are just a good idea to have.

1) Motor Insurance

If you have a car, van or motorbike, you’ll need a minimum of third-party insurance by law. This covers the cost of any damage to other vehicles and injuries to people if there is an accident. It won’t pay out for the cost of repair or replacement of your vehicle if it is damaged or stolen. Alternatively, you can take out comprehensive motor insurance, which covers your vehicle too.

Don’t assume that third-party only cover will be the cheapest option. And if you rely on your vehicle for your work, consider if you’d be able to repair or replace your car if something unexpected happens. If you can’t this could seriously affect your ability to work as a freelance courier.

Remember,  not every motor policy comes with a guaranteed replacement car whilst yours is being repaired or replaced. If you need that, make sure it’s included. And if you rely on a certain size car or van, take out a policy with a guaranteed like-for-like car hire option.

Remember: You’ll need a specialist commercial motor policy – an ordinary domestic insurance policy won’t cover you.

2) Breakdown cover for couriers

As a courier, you rely on your wheels. So what happens if you breakdown? Make sure you can get back on the road quickly with specialist breakdown cover for couriers.

3) Public liability insurance

You come into contact with the public every day. And when you do that, there is always a risk that they could be injured or property could be damaged. Accidents can and do happen, no matter how careful you are.

For example, imagine you’re stood waiting for a signature when someone trips on your bag that you’ve momentarily put on the floor. They break their wrist and claim for compensation for both the injury and their loss of wages.

With the increasing number of compensation claims being brought against bike riders, public liability insurance can be especially useful if you use a bicycle to courier items.

Imagine that you accidentally cycle into a pedestrian crossing the road, for instance. They fall and hurt their ankle. They can sue you for the injury caused as well as for loss of wages. Add on the legal fees to defend your case, and it can be a very expensive accident.

Public liability insurance covers your legal costs if a member of the public makes a compensation claim against you. Even better, it puts a legal team at your disposal, so you won’t need to worry about a thing. Instead, you can concentrate on your work.

4) Employer’s liability insurance

Although most freelance couriers are self-employed one-man-bands, if you employ others you’ll need employer’s liability insurance. This is a legal requirement even if your employee only works part-time. It works like public liability insurance, paying legal fees if anything unexpected happens to your employees connected to your business.

5) Goods in transit insurance

Whether your couriering food or packages, you’re responsible for these items whilst they are in your possession. If they are damaged in an accident or are stolen, you may be liable to pay up. Goods in transit insurance covers this liability.

Remember: Most policies will set a maximum single item limit (the maximum amount you can claim for one item). They also normally specify the maximum combined claim limit (the total amount you can claim for multiple items.) You won’t normally know what you’re transporting, so when you calculate how much cover you need make sure you don’t underestimate it.

6) Personal injury insurance

Have you thought about what will happen if you have an accident and can’t work as a freelance courier? Worries over who will pay the bills, especially if you have dependents, can be removed when you take out personal injury insurance. Also known as personal accident insurance, this pays compensation if you suffer a serious accident or die.

Remember: Personal injury insurance for you is not normally included with your vehicle insurance. Whilst motor insurance pays personal injury claims for anyone you injure when you’re driving the vehicle, it won’t pay out if you are injured. That’s why you should consider taking it out as part of your courier insurance bundle.

Finding cheap freelance courier insurance

Remember, you get what you pay for. Cheap courier insurance might not give you the level of protection you need. But you can still find great value for money insurance with these top tips:

Try telematics

Fitting a telematics box to your car or van can mean lower insurance premiums, but only if you’re a safe driver. It records things like speed, braking, and erratic driving. Whilst safe driving is rewarded with lower insurance premiums, if you’re considered to be driving unsafely, your insurance costs can rise.

Use a dash-cam

Installing a dash-cam can save you money on your courier insurance. It clearly records who is at fault in the event of an accident and that can save the insurance company money. You’ll need to pay for the installation of the dash-cam, but this cost can potentially be offset against tax.

Drive carefully

The best way to keep your insurance premiums low is to stay claim-free.

Don’t declare spent penalty points

You must always tell your insurer if you have any endorsements on your licence but beware of over-declaring penalty points. If you’ve had endorsements on your licence for driving offences, check online to see if they’re still valid. If you tell your insurance broker that you have penalty points but they are spent, you’ll be unnecessarily paying over the odds for your insurance.

Beat the thieves

Vans are an attractive target for thieves. Reduce insurance costs by fitting an immobiliser or professional alarm. If you can, park your van in a street with good lighting and where there are plenty of passers-by. Keeping your vehicle parked in a locked garage overnight can also help to lower premiums.

Shop around for the best deal

As with all insurance, it pays to shop around for your courier insurance. But that doesn’t mean hours spent phoning around or trawling the internet. Use an independent broker, like Easy2Insure, which can quickly access specialist policies. Even better, you can trust your broker to find you the right level of cover, so there are no nasty surprises lurking in the small print.

As with all insurance, it pays to shop around for your courier insurance. But that doesn’t mean hours spent phoning around or trawling the internet. Use an independent broker, like Easy2Insure, which can quickly access specialist policies. Even better, you can trust your broker to find you the right level of cover, so there are no nasty surprises lurking in the small print.

Cheaper courier insurance you can rely on

It’s Easy2 find great value freelance courier insurance. Call our helpful team on 0800 917 9522 or get a free quote.

If you own and drive your own Heavy Goods vehicle (HGV), insurance is one essential you need to get right. Whether you’re looking to insure one truck or you’re responsible for a whole fleet, here’s our essential guide:

Guide to lorry insurance

If you drive an HGV, then it’s a legal requirement to have appropriate insurance. Just like car and van insurance, as a minimum this will need to be third-party cover. This pays out to another party if you cause any injury or damage. Third-party, fire, and theft HGV insurance covers you if your vehicle is involved in a fire or is stolen as well as your third-party responsibilities. Or opt for fully comprehensive cover if you want to cover others and your own lorry against damage caused as a result of an accident. There are also options to that will pay out to replace a broken windscreen, as well as medical or legal expenses in the event of an accident.

When do I need HGV insurance?

A Heavy Goods Vehicle (HGV) is anything over 3.5 tonnes. It’s also sometimes referred to as a Large Goods Vehicle (LGV). Even relatively small 2-axel vehicles can fall into this category. For more information, see the government’s guide to lorry types and weights.

How much will HGV insurance cost?

The cost of your truck or lorry insurance will be determined by a number of factors. These include the age of the vehicle and driver, lorry value, and use. 

Do I need truck insurance if it’s not being driven?

Yes, you’ll need to insure your HGV even if it’s not being used unless it is registered as off the road (SORN).

 What sort of cover do I need?

Some drivers will have fairly straightforward requirements. For others it could be more complicated. Talking to a broker from an expert HGV insurance specialist, like Easy2Insure, can help you to make sure you get the level of cover that you need, without paying for anything that you don’t. For example, you might want to consider the following in addition to your HGV insurance to build a bespoke package:

• Goods in transit insurance – to cover the cost of any goods you are moving if they are damaged or destroyed when you’re on the road
• European cover – if you’ll be driving in Europe as well as the UK
• Multiple driver cover
• HGV breakdown cover
• Legal costs insurance

If you run a business, buying other types of insurance as part of your HGV insurance bundle can make financial sense. Other areas of truck insurance to consider might include:

• Public liability insurance
• Employer’s liability insurance (this is a legal requirement if you employ any members of staff, even if they work part-time or are contractors)
• Personal injury insurance – covers you for lost wages if you are unable to work because of an accident or illness
• Commercial property insurance – if you have business premises

Fleet HGV insurance

If you have a number of trucks or lorries, fleet insurance can offer value for money cover. Fleet insurance can cover fleets from as little as two vehicles.

Privately used truck insurance

In some cases, your HGV may not be used commercially. For example, this could be if it is a vintage truck or for some larger motorhomes, which fall into to he HGV category. In these cases, you’ll need to speak to an HGV insurance specialist like Easy2Insure to make sure you’re not paying-out over the odds for commercial cover. We also have a specialist team for HGV horsebox insurance, catering to the specialist requirements of travelling with animals.

Making sure your HGV insurance is valid

For your HGV insurance to be valid, every driver must hold a valid Driver Certificate of Professional Competence (CPD). For your Driver CPD you’ll need to complete four tests and take 35 hours of training every five years. Don’t forget that you need to renew your lorry licence every five years after you reach 45 years old and every year from the age of 65 years old.

Ways to reduce your HGV insurance premium

Don’t skimp on the level of cover you take out, but follow these tips to keep premiums as cheap as possible:

• Increase the excess. This is the amount you automatically pay if you make a claim. Generally, the higher the excess, the lower the premium
• Don’t pay monthly. You’ll pay more if you opt for monthly payments, so if you can afford to pay in one go, do pay annually
• Shop around for the best price. As with all insurance cover, it pays to shop around. Different insurance companies can offer very different premiums for the same level of cover

Get cheap HGV insurance for your truck, lorry or large van

Not sure where to start looking for the best price on HGV insurance? Let our expert staff shop around on your behalf. Our specialist team understands the technical details of HGV insurance, for great value and confidence that the cover we secure will be right for you. For a no-hassle, free quote, call us on 0800 9179522 or get a quote.