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Carriers liability insurance

Carriers Liability Insurance NZ

Carriers liability insurance provides coverage for businesses that transport goods for other people or companies. Essentially, if something happens to those goods while they're in your possession - like if they get damaged or stolen - this insurance can help cover the costs.

Why is carriers liability insurance important?

magine running a business where you’re responsible for transporting valuable goods. Accidents can happen, from a simple coffee spill on a package to a major traffic incident damaging an entire shipment. Carriers liability insurance ensures that when these accidents happen, your business isn’t left carrying the full financial burden. It gives you peace of mind, knowing that you’re protected from potential financial losses.

It’s crucial to have carriers liability cover if your business:

  • Transports goods for others
  • Handles fragile or valuable items
  • Operates across multiple locations
  • Has a fleet of transportation vehicles

What does carriers liability insurance cover?

Damages or Loss During Transit

The primary goal of carriers liability insurance is to cover goods that get damaged or lost while they are being transported. This could be due to accidents, mishandling, or unforeseen events. For instance, if you're transporting a shipment of electronics and they get damaged due to an accident, this insurance can help cover the costs.

Theft of Goods

If the items you are transporting are stolen, carriers liability insurance can step in to cover the loss. Whether it's a small package from a van or a significant portion of goods from a warehouse awaiting transportation, you're protected against theft.

Legal Costs Associated with Claims

Sometimes, disputes can arise over the damage or loss of goods. If a client or third party decides to take legal action against you, carriers liability insurance can also help cover the legal costs. This can include attorney fees, court costs, and any settlements or judgments.

How much does carriers liability insurance cost in NZ?

Carriers liability premiums are calculated on several different factors including:

  • Type of coverage
  • Journeys undertaken
  • Sums insured
  • Claims history

Carriers liability insurance can range in cost from $40 – $80 a month for small business.

Who needs carriers liability insurance?

Any business or individual involved in the transportation of goods for others should seriously consider carriers liability insurance. This includes:

  • Trucking companies.
  • Couriers.
  • Removalists.
  • Businesses offering delivery services.
  • Logistics and freight forwarders.

While it’s not a legal requirement for all transporters, some contracts or clients might require you to have it. Plus, it’s a wise business decision to protect yourself from potential financial setbacks.

Typically, carriers liability insurance covers domestic transits. For international transits, you might need additional coverage called Marine Cargo Insurance.

How do I get proof of carriers liability insurance?

You can usually get proof of insurance same day when you purchase carriers liability insurance through Gerrards.

Acquiring carriers liability insurance from traditional insurance brokers may require a few weeks, a delay that could create problems for policyholders who need instant insurance proof of carriers liability insurance for a contract. 

To obtain insurance coverage promptly, contact us. We may require you to provide some fundamental details about your operations, such as: 

  • The type of activity 
  • Values
  • Dates
  • Claims history 
  • Risk management strategies
Once you accept a quote we will issue you with a certificate of carriers liability insurance. 

What does carriers liability insurance not cover?

Goods in open transport

Some policies exclude goods transported without proper protection from weather or external factors.

Illegal activities

Any transport related to illegal activities is not covered.

Inherent vice

This refers to the natural decay or destruction of certain goods, like food rotting if not refrigerated.

Intentional damage

If you or one of your employees purposefully damages the goods, the insurance won’t cover it.

Other common questions about carriers liability insurance NZ

Yes! It’s essential to discuss with your broker about adjusting your coverage to suit the value and type of goods you transport.

Start by documenting the damage with photos, gather relevant paperwork, then contact your insurance broker or provider immediately.

Your carriers liability insurance can cover the damaged goods. For the truck damages, you’d look to your vehicle or commercial auto insurance.

Generally, yes! If goods are stolen while in your care, carriers liability insurance can help cover the costs. Specifics can vary, so check your policy.

Carriers liability insurance focuses on the transporter’s responsibility for other people’s goods. Goods in transit insurance typically covers the goods themselves, regardless of who is transporting them.

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