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Cost of living sees surge in ‘side hustles’

Food delivery gigs are still proving popular despite the end of lockdown, according to new research from Quotezone.

Quotezone, which compares fast food delivery courier insurance, says demand for the niche insurance product is up 54% in Q1 of 2022 compared to Q1 2021 – with part-time work accounting for 82% of this demand.

The data shows 94% of those taking out fast food cover have a year or less of no-claims bonus, which could suggest many are trying food delivery work for the first time, as it is compulsory to have insurance. The average age of policyholders is 34.

A study by Henley Business School supports the findings, showing 1 in 4 UK adults have a ‘side hustle’ – with those aged between 25 and 34 the most popular age band.  Furthermore, two-fifths of the UK workforce and 37% of Generation Y manage a side hustle of their own, this contributes £72 billion a year to the UK’s GDP.

The Quotezone data also reveals the most popular companies to deliver for are Uber – 37% – Deliveroo – 25.7% and Just Eat – 15%, with independent shops making up 10.6%.

Quotezone’s research covers fast food delivery drivers on scooters, mopeds, motorbikes and bicycles.

Greg Wilson, Founder of courier insurance comparison website Quotezone, comments: “With the cost-of-living crisis sending many people in search of additional income, the courier boom we witnessed during the pandemic looks set to be a flexible and accessible top up for many households.

“People just need to be careful and check that they have food courier insurance coverage for their type of vehicle and nature of work. Anyone using a licensed vehicle needs to take out the appropriate insurance or face a £300 fine and 6 penalty points.

“Those who are fast food delivery drivers, will be under pressure to deliver before the food gets cold and will likely drive a moped, scooter, motorbike or bicycle. That style of work can put them at an increased risk on the roads – this is where fast food courier insurance is essential.”

Quotezone helps around 3 million users every year, with over 400 insurance brands across 60 different products including general courier insurance and courier insurance for the food industry or other side hustles such as motor trade insurance. Recommended by 97% of reviewers on Reviews.

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Henley Business School info: https://sumup.co.uk/business-guide/second-job/ About Quotezone.co.uk: Launched in 2005, Quotezone.co.uk has grown to become one of the UK’s leading insurance comparison platforms. An early pioneer of price comparison systems, the Quotezone.co.uk platform continues to use proprietary comparison technology to help millions of people find better deals on their insurance each year. Quotezone.co.uk’s parent company, Seopa, was founded by the Northern Irish entrepreneur, Greg Wilson, in 2003. From its headquarters in Belfast, Northern Ireland, Greg Wilson, CEO, and Ian Wilson, Managing Director, have grown the company to more than 50 team members spread across two European offices. The company has been recognised with six Deloitte Technology Fast 50 Awards, and has been awarded a Deloitte Best Managed Company Award each year for the past five years – now a Gold Standard Best Managed Company since 2020.

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