Great Ways To Save On HGV & Truck Insurance
Owning and running a heavy goods vehicle (HGV) or truck is an expensive business these days. Many of these costs – such as road tax and fuel – are ones that truck owners can do little about, but truck insurance is something they can affect savings on. In this blog we’ll give you the insider’s guide to saving money on your HGV and truck insurance so you can keep your truck or HGV on the road for less.
Top Tips For Saving Money On HGV & Truck Insurance
- Level Of Truck Insurance Cover – depending on the age and usage of your truck or HGV it might be worth considering a third-party or third-party fire and theft truck insurance policy. Whilst this is type of cover is widely thought to be unsuitable for new trucks and lorries, if you have an older one or one that receives relatively little use it could be an option that’s worth investigating. It’s also worth checking if your truck insurance policy comes with extras that you may not need/want to pay for, European cover or truck recovery insurance, for example.
- Raise Your Policy Excess – as with any motor insurance policy, truck and HGV polices come with an excess – the first part of a claim that is paid by you. Raising the level of your excess can make a real difference to your premiums, and if your trucks are new, your drivers experienced and accident-free, it can make sense when taking out your truck insurance cover.
- Use A Truck Insurance Broker – speaking as a leading truck and HGV insurance broker you might thing getaquoteinsurance are bound to say this, but given the complexities of truck and HGV insurance it really does make sense to get your truck insurance quote from a broker. We cannot only save you money, but we can make sure you get the truck cover you need.
- Get A Truck Fleet Insurance Policy – if you are running more than one truck or HGV, or if you have other vehicles that can be insured on a truck fleet policy such as a tippers, tankers or refrigerated vehicles, then you can opt for a truck fleet insurance policy. This cannot only save you money but can also save you time and give you more flexibility.
- Name Your HGV Drivers – if you can name the people who will be driving your HGVs and trucks this can reduce your policy premiums. Sometimes this won’t be possible you’re your business uses casual drivers, for example – and it is essential that you notify your insurance company of any new drivers.
- Driving History – how much you pay for your truck and HGV insurance will be influenced by the people driving your trucks. Drivers with a history of accidents will push up premiums as will a history of claims, so try and recruit drivers with good records and keep your claims to a minimum. This latter point ties in with the raising of your excess: if your voluntary excess is high enough then the temptation to make small claims is reduced and this can help reduce your costs of truck insurance. Oh, and always be honest. Failure to disclose information could make your insurance invalid.
- Security and Transparency – if your insurer knows that your trucks are secure – have immobilisers and tracking devices fitted, are stored in secure premises when at your place of business etc. – then this may help reduce your truck and HGV insurance premiums, so be transparent about such things when getting your truck insurance quote. Equally make sure you are transparent with regard to the risks, or potential risks, your business faces. By explaining to your insurer what you do and how your business manages and reduces risk, you can reduce the cost of you cover.
Like to Know More About HGV and Truck Insurance?
Hopefully this article has given you some ideas on how you can save on your HGV and truck insurance, but if you have any queries or would like some specific help, then please contact the getaquoteinsurance truck and HGV insurance team today. You can call us on free on 0800 977 6037 or email us by clicking here.