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Hire and Reward Insurance

From delivering packages to house removals, compare hire and reward insurance quotes & see how much money you can save.

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What Is Hire & Reward Insurance?

Hire and Reward Insurance is a legal requirement for those transporting products or hiring out their own vehicle in return for payment. If you transport goods or hire your vehicle without this type of cover, your standard vehicle insurance can become invalid. At Quote Goat, we make it easy to compare hire and reward insurance quotes, helping all types of delivery drivers stay protected with the appropriate coverage that best suits their budget. 

Who Is Hire and Reward Insurance For?

Hire & Reward Insurance is important for anyone that carries/transports people or their goods in return for payment.

Delivery services have grown in popularity in recent years, leading to an increase in the need for delivery drivers. Becoming a delivery driver is a great way for UK motorists to capitalise on this urgency and earn some money. 

However, without a hire and reward policy, you could be liable for the cost of replacing your customer’s goods should anything happen, e.g. damage or theft.

Other businesses that typically purchase hire and reward insurance include:

What Does Hire and Reward Insurance Cover? 

Hire and reward insurance can include the following: 
  • Third-party coverage: This covers damage caused to other drivers.
  • Third-party, fire and theft: This insurance covers third-party damage as well as fire damage or the theft of your vehicle. 
  • Comprehensive coverage: A fully comprehensive policy includes your own vehicles and third-party vehicle damage, even if you’re at fault. Certain providers may even offer a courtesy van for use if yours is out of commission. 

It’s important to know exactly what hire and reward insurance entails. You can do this by discussing it with your insurance providers beforehand and thoroughly reading your policy terms. 

What Does Hire and Reward Insurance Exclude?

If you have a comprehensive policy, you may think that your insurance provider will pay out no matter the circumstances. But that is not always the case. As with any contract, your provider will need you to hold up your end of the bargain before compensating you for any claims. 

It is important to know that hire and reward policies do not cover:

  • Incidents that occurred while using the vehicle for personal use
  • If a delivery driver was delivering goods with a suspended or expired licence
  • Cases where a driver was negligent while completing tasks (i.e. leaving the vehicle unattended in an unsafe area or with windows open)
  • Goods in transit insurance — this is a separate product you’ll need to add on 
  • Delivery drivers not named on your policy 

Compare Leading Hire & Reward Insurance Providers

Quote Goat helps thousands of customers each year to compare insurance quotes from a panel of leading insurance providers using just one short form.

Our service is completely free for our users, and we are 100% impartial. To get started, enter your details into our quote form to see how much you could save on your hire & reward insurance.

As well as being able to compare quotes for hire & reward insurance, you can discuss your exact requirements with a specialist broker to receive tailored quotes and gain advice on exactly what type of cover you would require.

How To Get A Cheaper Hire And Reward Policy

The best way to find out if there are cheap hire and reward insurance deals available to you is to compare quotes from multiple insurers and choose the one best suited to your budget. 

In addition, here are a few tips you can implement to potentially reduce your hire and reward insurance. 

  • 1. Choose the best insurance policy for your needs: You could potentially save money by choosing only the specific type of insurance relevant to your requirements.
  • 2. Maintain a no-claims bonus: If you haven’t claimed on your current insurance policy, it shows that you’re a safe and responsible driver, which could bring your insurance cost down. 
  • 3. Carefully choose the correct size vehicle: It may not be possible in all industries to choose a small courier vehicle, but smaller vehicles cost less to insure than bigger vehicles. 
  • 4. Improve the security of your vehicle: Taking extra precautions for the safety of your vehicle may help you find cheap hire and reward car insurance deals. 
  • 5. Employ experienced drivers: Younger drivers or drivers with points on their licence pose a higher risk and, therefore, will be more costly to cover.

Quote Goat could help you find cheaper hire and reward insurance in the UK for your budget. Request a quote today

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Frequently Asked Questions

Is it a legal requirement to have hire and reward insurance?

Yes, it’s a legal requirement for drivers carrying people or property for a fee to have hire and reward, or courier insurance. You can buy a normal car or van insurance policy, then ‘top up’ with hire and reward cover, or you can buy a fully comprehensive hire and reward insurance policy.

Is it a legal requirement to have hire and reward insurance?

When comparing hire and reward insurance policies, you’ll need to provide specific details so that we can present you with the best hire and reward insurance deals suited to your needs. This includes your personal details, information about your vehicles, the delivery driver's driving history, and the type of cover you're looking for. 

What type of insurance do I need to deliver food?

If you are delivering food via motorised vehicle on UK roads, you must have hire and reward insurance for food delivery. If you’re making a takeaway delivery by bicycle, you don’t legally need any form of insurance to cover food delivery. However, hire and reward insurance for food delivery is always a good idea!

Will my employer buy my hire and reward insurance for me?

This comes down entirely to each employer and your contract with them. If you’re freelance or a sole trader, it’s likely you’ll need to sort out your own hire and reward insurance policy, however, it’s worth asking your employer before you buy a policy.

How much does hire and reward insurance cost?

Policy prices are calculated using a multitude of factors, including age, location, work-type, vehicle type and more. Therefore, the best way to get an accurate understanding of cost is to submit the quote form and compare quotes. 

How can I make a claim?

Please contact your insurance provider if you need to make a claim or have any questions about your specific insurance policy.

Can cover be paid for on a monthly basis?

Yes. Keep in mind that monthly payments end up being more costly compared to annual payments, which do not include interest charges.

Is there a minimum age?

While many insurance providers have age limits of 21 or even 25, there are others that can provide cover for people under 21.

What other type of insurance do I need for hire and reward or courier work?

  • Public liability: Public liability insurance is an add-on insurance product that protects you in the event of a third party claiming you injured them or damaged their property while doing business. It will help with the costs of legal expenses if you’re found liable. 
  • Employer’s liability: Protects your business from employees making claims if they sustain injuries while working. 
  • Breakdown cover: This covers the cost to get you to the nearest garage or to your home if your vehicle breaks down. This is especially important when making long-distance deliveries so you’re not left stranded far from civilisation.
  • Windscreen cover: Allows you to claim for any chips or damage to your windscreen, body glass or rear screen acquired while performing your job.
 

Can I get cover for more than one vehicle?

Yes. If your business has several delivery drivers and more than one van, you can get fleet insurance. Hire and reward insurance cover is an add-on to your fleet insurance. 

Does hire and reward insurance include goods in transit cover?

Not typically. Courier van insurance policies usually don’t cover the loss or damage of goods or parcels, much less losing a person while they’re being transported. You’ll need to opt for goods in transit insurance to cover these costs.
Author Image - Michael Foote

Written By Michael Foote, Insurance and Finance Expert

Michael Foote is the founder of Quote Goat with over 13 years of experience in finance, insurance, and currency sectors. Since launching Quote Goat, he has appeared on TV and in major online publications, including Forbes, The Telegraph, and The Metro. Prior to Quote Goat, he worked for firms such as HSBC.