Truck and HGV Insurance Guide

 Owning and running a truck or heavy goods vehicle (HGV) is an expensive business and it’s essential to have the right truck or HGV insurance cover in place should anything happen.  But what exactly is the right truck or HGV insurance?  In this brief guide to truck and HGV insurance, getaquoteinsurance – the truck, lorry and HGV insurance experts – give you all you need to know in order to get the truck insurance that’s right for you.

What is Lorry And HGV Insurance?

A truck insurance policy – also known as HGV, lorry or haulage insurance policy – is one that has been specifically designed to meet the needs of any business that uses trucks, lorries or other HGVs.  It is often made up of various elements of cover and is usually categorised depending on the number of trucks, lorries or HGVs that need to be included. For example, a truck policy can work for companies or individuals running a single HGV or for one with 5 trucks of 7.5 tonnes gross vehicle weight or over.

What Are the Benefits of Lorry and HGV Insurance?

These will vary according to the truck insurance policy provider and the specific details of the truck policy being taken out, but typically good quality truck and HGV insurance cover will give you:

• Cover for haulage and own goods use
• Cover for drivers aged between 19 and 69
• Cover for gross vehicle weights between 3.6 and 60 tonnes
• Cover for all types of articulated and rigid bodied vehicles

What Sort of Vehicles Can Be Covered by Lorry and HGV Insurance?

Surprisingly the types of vehicle that can be covered by a truck or HGV policy is rather larger than just lorries, trucks or HGVs.  The following are all eligible for cover under a truck insurance scheme, so truck insurance is by no means limited to being of benefit to haulage firms.

• Trucks
• Tankers
• Tippers
• Box vans
• Lorries and HGVs
• Cement mixers
• Bulk carriers
• Flatbeds
• Horseboxes
• Low loaders
• Pantechnicon (removal vans)
• Refrigerated and insulated lorries and vans
• Flat beds

What Types of Lorry and HGV Insurance Are There?

As with other forms of motor vehicle insurance, truck insurance can be either comprehensive or third-party.  Most truck and HGV owners opt for comprehensive cover which typically gives extra peace of mind by offering: 

• Guaranteed replacement of a truck within the first two years if the truck or HGV is written-off
• Cover for loss or damage to other damaged vehicles and property, or people who are injured

Comprehensive HGV and truck insurance policies often have the following additional options:

• A choice of repairer
• Repair guarantees
• Debris removal following accident cover
• Cover for towing costs
• Emergency travel expenses cover
• Replacement hire costs if the vehicle is stolen
• Cover for the cost of changing/replacing locks and keys
• Cover of the cost of returning the vehicle after theft, loss or damage

Third-party HGV and truck insurance is, understandably, significantly cheaper than fully comprehensive truck cover, though it is usually only taken out on old, seldom used vehicles.  Third-party truck insurance’s main benefit is that in the event of an accident you’ll be covered against liability for personal injury and damage to other vehicles or property.

As with other vehicle types, companies with multiple vehicles can take out truck fleet cover.  This brings the same advantages as other fleet insurance policies in terms of reducing overall cost, reducing administration time and offering extra vehicle flexibility.

As a Haulier, What Other Insurances Do I Need with my Lorry or HGV Cover?

If you are haulier, then there are a few additional insurances you may wish to add to your truck or HGV insurance and these are listed below. 

• Vehicle insurance*
• Goods in transit insurance,
• Employer’s liability insurance*
• Public liability insurance
• Legal expenses insurance.
• Truck breakdown and recovery cover
• European cover

 *These covers are legal requirements in the UK

Obviously, which ones will suit you depends largely on your business’s needs so the best thing to do is to talk to a truck insurance expert to get the cover that’s right for you.

Like to Know More About HGV and Lorry Insurance?

Hopefully this article has explained the basics of 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.