Hire & Reward Insurance

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Why Compare Hire & Reward Insurance Quotes With SimplyQuote

SimplyQuote understands the hassle and stress of comparing hire and reward insurance quotes from multiple insurers.

The online comparison tool is designed to streamline the entire process with the click of a button – and it’s 100% free!

Quickly find and compare insurance quotes for all your hire and reward needs, whether you’re a part-time independent food delivery driver or transport goods as a full-time job; SimplyQuote is right there at your side.

What Do You Need To Get A Hire And Reward Insurance Quote?

To get a hire and reward insurance quote from us you’ll need to give us the following information:

  • Drivers’ details – name, surname, UK/EU driving licence
  • Vehicle details such as model, registration number and name of the insured
  • No-claims history
  • UK location
  • Delivery schedule/working hours

Why Do You Need Hire And Reward Insurance In The UK?

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What Does Hire And Reward Insurance Cover?

What Are The Different Types Of Hire And Reward Insurance Policies?

Hire and reward insurance can be used for several professions, such as food deliveries, furniture removal services and courier services.

Let’s take a closer look at the different types of insurance coverage available in the UK:

Pay-as-you-go (PAYG) insurance

Only pay when out on deliveries with a flexible PAYG insurance plan. This type of cover is ideal for part-time delivery drivers, working 20 hours a week max.

30-day monthly policy plans

As the name suggests, 30-day hire and reward insurance is billed on a monthly basis. It offers short-term insurance that aligns with your working schedule.

Annual policy plans

Annual policies are the best option for full-time delivery drivers as you will be covered all year round. Depending on which insurer you opt for, Social, Domestic & Pleasure (SD&P) insurance is generally included in these plan options.

Food delivery cover

This may come as a surprise if your fast food delivery driving is a casual role outside of your normal 9-5, but in the eyes of the law, you are driving for hire and reward and need insurance cover.

Courier insurance

Couriers often have multiple stops to deliver different types of goods to several addresses, such as Amazon drivers or the UK postal service. You need courier insurance – a sub-category of hire and reward insurance – that reflects this.

Hire and reward van insurance

While hire and reward insurance covers all types of vehicles, including motorcycles, cars and vans; you must provide the exact details of your vehicle to your insurer when you get a quote. You can’t drive different vehicles interchangeably unless your policy permits say so.

Temporary hire and reward van insurance

Temporary van insurance provides short-term insurance cover for vans up to 3.5 tonnes granted all deliveries are within the UK.

Gig economy flexibility

If you have multiple occupations, for example, you are a taxi driver who also works for a food-delivery app like Uber Eats as your side hustle, you’ll usually need to inform your insurer of this.

Class 3 business-use car insurance

Another description of hire and reward insurance is Class 3 business-use car insurance. It’s an enhanced version of your standard car insurance.

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What Levels Of Hire And Reward Insurance Are Available In The UK?

The different levels of UK hire and reward delivery insurance include:

Third-party only (TPO)

TPO is a minimum legal requirement for all UK delivery drivers. It offers protection against claims from third parties if you injure them or damage their property while working. However, it doesn’t cover any costs for yourself as the delivery driver or for your delivery vehicles.

Third-party, fire and theft

TPFT covers the basic TPO level with the added benefit of being compensated if your vehicle is damaged by fire or is stolen.

Fully comprehensive

Fully comprehensive is a combination of TPO and TPFT cover with the added benefits of windscreen protection, public liability, navigation (GPD) device cover, SD&P cover and vehicle repair costs. Confirm these details with your chosen insurer.

What Additional Extras Are Available For Hire And Reward Insurance? 

How Much Does Hire And Reward Insurance Cost?

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How To Get Cheaper Hire And Reward Insurance

There are many ways delivery drivers can get cheaper hire and reward insurance premiums:

Choose a smaller, cheaper vehicle

It’s not always possible to drive a smaller vehicle, because sometimes your work will require a van or truck. However, these bring greater hazards in the eyes of insurers, which tells them you have an increased likelihood of being involved in a road traffic accident.

Those assumptions mean that larger, heavier vehicles are more expensive to insure. If it suits your work to drive a smaller vehicle, it might also be more cost-effective.

Investing in a new van could save you money as they are considered more fuel-efficient and are generally cheaper to run.

Keep your annual mileage down

Your annual mileage tells your policyholder how much time you tend to spend on the roads, and this helps them determine the likelihood that your vehicle will be involved in an accident. From an insurance perspective, the more time on the road, the greater the risk.

Other factors come into play too, like the type of roads you will be driving (whether these are congested), the time of day you will be driving and overall driving conditions.

Be a mature, safe and experienced courier driver

Under-25s may struggle to secure hire and reward affordable insurance policies, whereas over-40s have the best chances of finding the most competitive deals.

Having multiple parties covered by one insurance policy might cause it to increase in price, but you can often encourage cheaper deals if the main delivery driver is experienced.

Maintain your no-claims bonus

Drivers who have built up a no-claims bonus usually benefit from cheaper insurance quotes, and most insurers will take into account whether you have made claims in the past few years.

Opt for telematics technology

Telematic or “black box” technology is a tracking device insurers have installed in your delivery vehicles. It collects your driver’s driving history and is used to determine the price of your hire and reward insurance premiums. Essentially, the safer the driver, the cheaper your insurance policy will be.

How To Compare Hire And Reward Insurance Quotes With SimplyQuote?

Compare hire and reward insurance services with SimplyQuote today:

  1. Fill in one form: Tell us about yourself, your occupation, vehicle and location.
  2. Choose optional extras: Choose any additional cover you’d like to add.
  3. Compare quotes: Review and compare quotes to find the best one that fits your budget and meets your insurance requirements.
  4. Save money: Find the best hire and reward insurance deal with SimplyQuote.
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Frequently Asked Questions

What is hire and reward insurance?

Hire and reward insurance is a specialised commercial vehicle coverage for transporting goods or passengers for payment, such as couriers or taxis. It protects vehicle damage, legal expenses, and injury compensation arising from accidents during these activities.

Why is hire and reward cover so expensive?

The increased expense for hire and reward insurance can be caused by a combination of factors, including:

  • Long periods spent on the road
  • Increased mileage
  • Usually work during peak hour traffic
  • Encountering hazards when driving in city centres
  • Typically driving with less visibility, such as at night
  • Rushing due to delivery time pressures
  • Operating HGV’s
  • Transporting multiple passengers
  • Motorway driving
  • Driving in poor conditions (e.g. low light, inclement weather)
Can I get cover for more than one vehicle?

Yes, many insurers offer policies that cover multiple vehicles, often known as fleet insurance.

Do I need to provide a list of all the drivers and vehicles?

Yes, to get a quote for hire and reward insurance, you will need to provide a list of all the drivers and vehicles that need to be covered on the policy.

Does hire and reward insurance cover food delivery?

Yes, food deliveries are classified as a type of hire and reward service and fall within a hire and reward insurance policy.

Does hire and reward insurance cover the cost of replacing goods in transit?

Generally, standard vehicle insurance for delivery drivers will not compensate you for damage, loss or theft of goods, parcels, or persons being transported. You will need additional courier vehicle insurance or goods in transit insurance to cover these costs (public liability is needed in the case of carrying passengers).