Truck Insurance Explained

 

Truck insurance can be a bit of a daunting subject if you're new to it. There are many different types of trucks including HGV, LGV, tipper trucks, refrigerated trucks etc etc. Knowing the right type of cover to get is essential for running a business successfully.

 In this article I'll look at the different types of cover you can get as well as how you can save money on your policy. Firstly let's look at the cover options that you can find with truck insurance:

Types of Cover

Whilst each truck insurance policy will be different depending on the individual's needs, there are certain types of cover that you can find with most policies. These include -

• Fully Comprehensive - This is the best type of cover since it covers you for all accidents, whether you're liable or not


• Third Party - This will provide cover only if a third party is at fault. It's not very practical for truck insurance although you are legally able to drive with this level of cover


• Legal Expenses - This is a very useful cover option that will compensate you for legal fees should you become embroiled in a liability claim


• Breakdown Assistance - This is essential for truck drivers and is included in most policies. Most insurance providers will offer breakdown assistance at a very competitive rate


• European Cover - Many haulage companies own vehicles that travel back and forth between the UK and Europe. Therefore they need a policy that will protect their trucks in both places. Any good insurance provider will be able to offer insurance for both the UK and Europe

How to Save Money

It's always important to save money when looking for truck insurance. Below are some of the most reliable ways that you can do this -

• Get Multiple Quotes - This should go without saying as it's probably the best way to save money. Luckily it's now very easy to get quotes online by using an insurance comparison service


• Pay Annually - Most insurance providers prefer that you pay for your policy annually rather than monthly and will therefore offer you a decent discount when you pay like this


• Hire Reliable Drivers - If you own a haulage firm and need to insure multiple drivers, you can save a great deal of money by only hiring drivers that are experienced and have a clean driving licence