Transport insurance for businesses

The type of transport insurance you need depends on your vehicle types, business operations, and industry sector. Heavy vehicles require specialist truck insurance, while business fleets need commercial vehicle coverage.

Heavy vehicle insurance covers trucks, semi-trailers, and vehicles over 3.5 tonnes used in transport and logistics operations. Commercial vehicle insurance covers business cars, vans, and light vehicles under 3.5 tonnes used for company operations. The 3.5-tonne weight distinction determines which coverage type you need.

Transport insurance costs vary significantly based on vehicle types, business size, operational risks, and coverage requirements. Insurance for heavy vehicles typically costs more than insurance for commercial vehicles due to higher risk exposures and asset values. Contact our specialists for accurate pricing based on your specific transport operation.

Transport insurance costs vary significantly based on vehicle types, business size, operational risks, and coverage requirements. Heavy vehicle insurance typically costs more than commercial vehicle insurance due to higher risk exposures and asset values.

Insurers use a range of details to calculate premiums. These include your:

• Level of cover
• Business turnover
• Prior claims history
• Fleet size
• Type of cargo.

Insurers may also factor in the number of claims they expect to receive in a year for a particular business type.

Contact our specialists for accurate pricing based on your specific transport operation.

Transport and logistics insurance is designed to cover risks associated with transporting goods and operating vehicles, such as damage, theft, or accidents involving your vehicle or fleet. General business insurance, on the other hand, provides broader coverage for overall business risks, including property damage, liability, and employee-related risks.

Key differences include:

• Scope: Transport insurance focuses on vehicles, cargo, and operational risks related to transportation.
• Coverage specifics: It can include cover for goods in transit, vehicle repairs, and roadside assistance.
• Purpose: Designed to protect the core activities of transport and logistics businesses, ensuring continuity in case of incidents involving vehicles or cargo.

Yes, different types of transport operations often require specialised insurance coverage. For example, freight transport, courier services, and passenger transport each have specific risks and regulatory requirements. Policies should ensure that specific operational hazards are adequately covered, such as cargo protection, passenger liability, or vehicle cover.

Factors to consider include:

• The nature of goods transported or services provided
• Vehicle types and usage
• Regulatory compliance specific to your operation
• Risk exposure levels

Consulting with an insurance broker can help you determine the most appropriate coverage for each aspect of your transport business.

Transport insurance broadly covers risks related to operating vehicles and transporting goods, including damage, theft, and liability. Courier or logistics insurance is more specialised, focusing on the specific needs of courier services and logistics providers, such as rapid delivery, cargo handling, and warehousing.

Differences include:

• Scope: Courier insurance often emphasises quick delivery, liability for parcels, and time-sensitive cover.
• Coverage: Logistics insurance may include warehousing, inventory, and supply chain risks.
• Operational focus: Courier insurance is designed for small, frequent deliveries, while logistics insurance covers larger-scale, complex supply chain operations.

Choosing the right policy depends on your business model and operational requirements.

A certificate of currency is proof that you hold a current insurance policy.   

Please contact us once you have accepted your policy and we will arrange for a certificate of currency to be sent to you from your insurer. 

While transport operators may not be legally required to obtain a goods-in-transit policy, some clients may need a certificate of currency before they enter into a contract.

One of the most common claims for transport operators are third-party property claims, where the transport vehicle accidentally damages another third-party’s property.

Here is an example of what a claim could look like:

Karim owns and operates a trucking business which transports fruit from packing houses to exporters. One day, one of his employed drivers unexpectedly encounters a large rock in the road while he’s driving around a blind corner. Despite the driver’s best efforts, the truck rolls. Several crates of goods are damaged – and the incident closes an essential road for four hours.

Karim has a transport insurance package arranged by his broker, which meets the specific needs of his business. Carriers liability insurance covers some of the cost of the lost cargo, and repairs to the truck are covered by motor vehicle insurance. The insurer also covers the cost of road clearing and traffic management while the road is closed.

This case study is fictional and does not represent any real-life individuals, events, or organisations.

Read more about heavy vehicle insurance

Yes, in most cases there will be an excess. You can reduce your excess by paying a higher premium.