Courier insurance is indeed very important as it protects against all unexpected things that might happen during the business activities. If you have a courier company, you must be interested in buying cheap courier insurance. It is undoubtedly one of the most vital cost factors for your business returns. However, the insurance rates have elevated considerably these days and it is not possible for every company to spend so much on courier insurance. There are certain ways which may help you avail the maximum benefits and that too at an affordable price.
Don’t Compromise: The owners of very small or medium-sized courier companies often try hard to somehow decrease their courier insurance expenses. But in doing so, they generally end up in sacrificing a significant amount of protection which does not seem to be a good idea. To begin with, never think of compromising as it would take your business nowhere.
Learn about the Courier Insurance Types: Before going for insurance, you must know that there are three types of insurances meant for courier service providers. These include courier van insurance, public liability insurance and merchandise in transit insurance. The insurance rates are different for different types. To get a full coverage, you really need to spend some good bucks.
Bundle It Up: You can start by requesting bundled quotes that cover all the three types. By doing so, it becomes easy to get some discount from the company for simultaneously buying multiple insurance policies from the same company. The insurance companies would be more than happy to provide you with affordable quotes and hence you can get hold of a cheaper insurance well in your budget. You can also negotiate a bit to pay even lower premiums without altering the amount of protection.
Be Clear about the Budget: You can also state your budget so that the insurance provider can help you select among the appropriate plans. A good company may design a courier insurance plan to meet your budget and needs.
Work on Combinations: It is also possible to buy a combination of two plans in case you do not need all the three. The insurance company can guide you to have the best combination at reasonable rates. For example, if you are not interested in buying public liability insurance, the company can plan the merchandise in transit and courier van insurances by making them reasonably priced.
Plan the Cash Flow: At the end of the deal, you can settle the payment terms according to your cash flow. Some insurance companies provide discounts to the customers who pay yearly premiums. But paying full premium at once may not be easy for the small courier companies having a taut budget. For such companies, monthly installments are more apposite. Though this method can be a bit expensive, it helps them to manage their cash flow.
What Else for Cheap Courier Insurance?: If budget is not a problem for you, then you can pay yearly premiums and avail reasonable discounts. You can even pay for the next year in advance to gain even bigger discounts. With a little planning and patience, getting cheap courier insurance is not at all difficult.