What Is Hire & Reward Insurance?
Hire & Reward Insurance is a legal requirement if you are transporting goods, passengers or hiring out your vehicle in return for payment. Without it, your standard vehicle insurance can be deemed invalid, meaning that in the event of an accident your insurance would not cover you.
What does Hire & Reward Insurance Cover?
Hire and reward insurance protects drivers and their vehicles in the event of an accident, theft or damage. However, although it is legally required for transporting goods, it does not cover the goods themselves. If you also wish to protect the goods you are transporting, you will need goods in transit insurance on top of your hire and reward policy.
When you arrange cover through Quote Goat, your tailored policy can include hire and reward cover as well as goods in transit.
Which professions require hire and reward insurance?
Hire and reward insurance is necessary for any profession that involves transporting goods, belongings or people including:
Taxi Drivers & Chauffeurs
Car, Bike Or Van Couriers
The type of hire and reward policy required will depend on the service you are offering. Couriers, for example, tend to make frequent deliveries in a local area whereas hauliers or furniture removal companies will typically make longer trips, less frequently. Each of the services above will carry different levels of risk which subsequently affects the cost of your policy.
When you get a hire and reward insurance quote through Quote Goat, a specialist insurance provider will take you through your requirements and provide a tailored policy to suit your needs.