Goods in Transit Insurance - Can Still Be Optimised Through a Broker
Updated: Aug 24, 2020
What is Goods-in-Transit Courier Insurance?
There are high chances of goods – courier items – being lost or damaged while they are enroute to drop-off locations. This type of courier insurance cover – as the name suggests covers such losses in case of unfavourable incidents. It is specially tailored around the distribution’s businesses – and not for mainstream organisations who rarely send documents etc. through courier.
The Role of Broker
Yes, your Goods in Transit courier insurance policy can become 100% customised as there is no one-size-fits-all type of a cover. And, your broker has an essential role in designing a policy that’s best-suited for you and your courier insurance business. In this case, your broker can surely guide you about the best premium rates, cheap quotes and provide a comparison between market rates. Plus, he can tell you whether you need an add-on with such a cover. There are tens of other excellent insurance policies, especially for courier drivers, with which you can protect your business from going under a substantial financial liability.
Who should get a Goods-in-Transit Courier Insurance?
If you’re an entrepreneur in the courier industry and your courier van is an essential source of income for you, you should get courier insurance. We also suggest giant courier agencies with a full-flash fleet to obtain Goods-in-Transit courier insurance because it is a source of trust and brings customer loyalty. It’s a symbol which shows the safety and security measures taken by a courier company to protect its customers’ valuable goods. So, in simple words, your courier service is more attractive for clients who want to transport their valuable goods to their loved ones. Another fat reason why courier services should get a Goods-in-Transit policy because it can save thousands of compensation pay-outs. You won’t be held liable (or only to an extent) if you already have a GiT Cover.
Goods in Transit Courier Insurance and the season of Christmas
This type of insurance coverage typically becomes popular among courier drivers during the season of Christmas and New Year. That’s because a lot of people in the UK send fragile gift items and other consignments through these services. There are increased chances of vulnerable events happening on the roadside – and so, this cover comes to rescue. If a courier driver chooses to buy a temporary policy, he can do so. It is, however, a better idea to get an annual cover because it guarantees ease, convenience and a particular level of financial benefit with the claims and all.
Courier Insurance has emerged as an industry in itself – with thousands of products that aim to protect both of the sides – the courier service providers, the brokers and the customers who transport their goods via such services. Getting a Goods-in-Transit cover can save you courier business’s money and reputation – above all!
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