November 2013 sees the release of the new Xbox One – the most expensive Microsoft console ever – and couriers around the country are bracing themselves for its mass delivery. And with a whopping value of £429, the Xbox One comes out just two weeks before the launch of the PS4 – a slightly cheaper, but by no means cheap console available at £349. So if you’re going to be delivering the Xbox One or the PS4, get yourself and the consoles the right protection with a comprehensive courier insurance policy.
Courier insurance explained
Good courier insurance is absolutely vital if you’re delivering expensive items like games consoles; loss, theft or damage to the items you’re delivering could cost your company thousands but with the right insurance policy, you can ensure your business stays afloat whatever happens.
Although courier insurance premiums can be quite high, the cost will be far greater if you don’t have it. Courier vans are considered a high risk because they make multiple stops, work throughout the night and thieves know that there could be valuable goods inside.
Therefore it’s always best to take out a policy that includes goods in transit insurance as it will also protect the goods you’re delivering while you’re on the road and not just your vehicles. And whether you have a single vehicle or a fleet, most courier insurers will cover all your vehicles. Usually there are two types of policies:
Third party, fire and theft: This is a minimum level of cover that you can take out with most courier insurers. It only covers your vehicles – not its contents – so if anything happens you won’t be burdened with the cost of buying a new vehicle and will be able to keep your business up and running with a courtesy vehicle.
Comprehensive cover: This type of cover is more expensive but will provide the best level of protection for expensive items. Not only will it include breakdown assistance, public liability cover and employer’s liability insurance, it also provides goods in transit insurance. This means you won’t lose thousands of pounds if the Xbox Ones or PS4s you are delivering get lost, stolen or damaged.
Delivering valuable items
When you’re taking out courier insurance for the delivery of valuable games consoles, it’s very important to pay attention to weight restrictions. £10,000 of courier insurance may seem like a good deal but an Xbox One weighs around 3kg so if your policy specifies £15 of cover per kilo, this £10,000 of protection will not be enough.
Read your policy’s small print to avoid getting caught out and discuss exactly what type of cover you need with your insurer before you sign on the dotted line. An insurer is not there to catch you out, but to help you protect your courier business; so when you’re getting courier insurance quotes at DNA, explain that you will be carrying valuable games consoles and your good insurance advisor will do their best to tailor-make a policy to fit your business’ needs.