Friday, 9 December 2011 9:16 AM
The cost of fuel and insurance are having a big impact on courier margins, however, you can make significant savings and reduce your company's outgoings by being savvy when it comes to finding the right cover.
There are a number of factors you need to consider when it comes to insurance cover and while price is important, it should not be the determining factor in your decision to take out one policy over another.
You must also bear in mind the level of protection offered by a particular product, additional benefits included in the policy and any exclusions.
With so much to bear in mind, there is only one way to effectively ascertain whether one policy suits you better than another and that is to shop around.
There are so many insurance deals available today that it makes financial sense for you to invest a little time and patience in scrutinising various offers from different companies.
However, this can be a time-consuming process unless you plan it properly and know exactly what you are looking for from your courier insurance.
One of the best ways forward is to outline exactly what it is you want your policy to cover.
By doing this, you can specify what your requirements are and filter out those policies which do not include the features that you need.
For example, do you want your product to include goods in transit insurance? This is essential for businesses charged with delivering valuable goods, as the cost should they go missing could be significant.
You may find a policy that includes this is cheaper overall than taking out two separate products.
In addition, some policies may offer secrecy insurance and equipment cover while others may not. It may make financial sense to pay a little extra for such cover rather than investing in separate policies for each.
The cost of courier insurance is obviously a major factor when making your decision.
It is important to be careful with this, however, as a policy which looks artificially cheap could prove too good to be true and lack the valuable protection you need to transport goods with peace of mind.
You should weigh up the cost in relation to the features a particular policy includes. So after you have outlined what your specific requirements are, you can shop around for policies that include them and determine the most cost-effective solution for you.
With so many companies vying for your custom, new products are emerging all the time and you may find a policy which is more appealing than the one you have already taken out.
So with that in mind, you should consider how flexible a product is before you make your decision to purchase it or not. Things you may wish to bear in mind include any costs associated with wanting to switch or cancel and what penalties you may incur should you miss a payment.
Shopping around may take up more of your time but the benefits of doing so make it well worth it and if you use a service such as ConstructaQuote.com, you can be sure that the best courier insurance quotes are provided to you in a clear yet detailed way.