Insurance for Owner Drivers
Advice on insurance requirements for self-employed drivers
If you plan on being a self-employed driver for GSS, it’s imperative that you have the relevant insurance policies in place and we will insist you meet certain standards in terms of insurance. Not just for your vehicle, but to cover you as a supplier, including the goods you are transporting and liability insurance.
Vehicle Insurance
The vehicle you use to provide services to GSS must be correctly insured, with fully comprehensive insurance in place that meets at least the minimum legal requirements for use in the UK.
Your insurance policy must cover your vehicle and you, as the driver, for business purposes and carrying goods for ‘Hire & Reward’. This is a class of insurance which allows you to legally carry other people’s goods in return for payment. Hire and Reward Insurance is essential for couriers and hauliers and anyone who carries people or the property of others in exchange for a fee.
If you do not have the relevant insurance in place, we will decline to work with you as you will not be insured in the event of an accident.
Goods in Transit (GIT) Insurance
If you carry goods in your vehicle that do not belong to you, you need a separate insurance policy to cover the value of the goods if they are lost, stolen or damaged in an accident.
Goods In Transit insurance is available as an extra on your courier, haulage or tradesman insurance policy to protect property against loss or damage while the goods are in transit from one place to another.
The minimum level of Goods In Transit insurance cover we require is £25,000.
Public Liability Insurance
As an owner-driver, public liability insurance is essential to cover you against claims made by customers, or members of the public, who suffer injury or property damage because of something you have done in the daily process of running your business.
It is used to pay any legal or compensation costs that result from any such event, and although not compulsory, it is recommended for any business that interacts directly with its customers or the general public on a regular basis.
We insist on a minimum liability coverage for public liability of £5 million.
Want to learn more?
We have a range of articles to help you if you are currently a self-employed driver or thinking of becoming one.