What To Know About HGV Insurance

Posted on April 5, 2009
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Before you renew or take out a new heavy goods vehicle (HGV) insurance
policy ask a specialist HGV insurance broker or company to review your
insurance programme and policy to help you make the right choices as well as
ensuring you are sufficiently insured.

 

There are two different classes of use under HGV insurance.  Carriage of goods for hire or reward and
carriage of own goods. Carriage of goods insurance provides cover for hauliers
who transport and carry goods for others from which they receive reward or
payment. Carriage of own goods is the insurance used by HGV owners who
transport their own goods and deliveries and do not receive payment or reward
from others.

 

Insurers class trucks as goods carrying vehicles which have a gross
weight over 7.5 tones and less than 44 tones. 
Rigid lorries are classed as a vehicle which is all one unit and
requires the driver to hold a class II HGV license.  Articulated lorries have two units. The cab
and the trailer which can be disconnected from the cab, to drive an articulated
lorry the driver must hold a class I HGV license.

 

Many HGV insurers look very favourably on truck drivers who have
undergone crash reduction training to reduce the risks of being involved in an
accident.  Insurance providers will be
happy to help you find the most appropriate driver training, which may help
lower the cost of your HGV insurance premiums.

 

A truck insurance policy covers the truck itself, depending on what type
of insurance you have, and any damage which the truck may cause to others, this
is either damage to people or property. 

 

Truck insurance is available for single trucks or fleets of trucks.
Fleets of trucks can benefit from having fleet insurance rather than having an
individual policy for each truck.

 

HGV insurance companies have flexible policies to ensure that your
individual requirements are fully met. Competitive policies start with Third
Party Only which provides cover for damage to third party vehicles and
accidental death or bodily injury, however restrictions do apply. Some insurers
include European cover with this type of policy.

 

European cover which meets local laws and regulations is needed for any
HGV travelling within the European Union. Other countries have their own
specific regulations, if your HGV is travelling outside of Europe
the insurance needs will differ, discuss these with the insurance company.

 

Third Party Fire and Theft includes loss or damage to your vehicle, also
travel within the European Union within the restrictions of your policy.

 

There are some very competitive deals available on Comprehensive , medical expenses for persons being carried in the
vehicle and it is involved in an accident involving your vehicle and audio
equipment that was fitted as standard during manufacture of the vehicle.

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