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What to look out for when buying HGV Insurance

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If you run a fleet of HGV vehicles then ensuring you have appropriate and adequate insurance cover is of the utmost importance. The success of your business is likely to depend on keeping your vehicles on the road so any time they are out of action is going to be a major concern.

From a definition perspective, any vehicle that is between 7.5 and 44 tonnes in weight is classed as HGV. When sorting out the insurance for your HGV vehicles there are a number of things you need to look out for such as:

  • How old your vehicles are and what the current market value is?
  • Whether you need fully comprehensive or third party cover. Market value will probably have a big bearing on this.
  • Whether you will be using the vehicles abroad. If you are then your policy needs to cover you for international journeys.
  • Who will be driving the vehicles? Naming all the drivers on the policy is likely to give you a more competitive premium.
  • The types of goods you are carrying. Insurance for transporting dangerous or hazardous goods is likely to be higher so it makes sense to tell your insurer about all the goods you are likely to be carrying to ensure you’re covered.
  • Do you want to include ‘goods in transit’ cover alongside the HGV cover so that all the vehicles’ contents are appropriately covered?
  • Is there likely to be a danger or risk of injury to third parties when loading or unloading the vehicles? If there is a chance that this might happen then you may also need to include public liability cover.
  • Do you want to have an insurance policy that also includes breakdown cover? This can be more convenient than having separate breakdown arrangements and will ensure that you can keep your vehicles on the road and deliveries on schedule.

Check your existing policies to see if they cover everything you want them too. HGV vehicle insurance can be complex with a wide variety of stipulations so you need to make sure that you are correctly covered. HGV insurance is too important to your business to under-insure so if there’s anything you’re unclear about or any questions that you want to ask, please do not hesitate to get in touch.

Read 1013 times Last modified on Friday, 18 September 2015 09:48

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