| HGV Insurance, also called Heavy Goods Vehicle (or | | | | specific issue needs to be addressed when you're |
| Haulage) Insurance, is not a frequently used term and | | | | talking of a Heavy vehicle. The purpose changes |
| needs proper understanding. Though the concept | | | | altogether. |
| sounds simple, it contains a lot of unexplained clauses | | | | To begin with, the operator should find a HGV |
| and hidden policies, and the insured may not realise | | | | Insurance package. Since the volume of both goods |
| this at the time of applying. A person going to buy | | | | and rounds that the HGVs do is particularly high, |
| HGV Insurance must learn what they are required to | | | | insurance is needed which runs 24/7 and covers |
| do and what the benefits of the policy are. | | | | every trip they make. Generally, the insurance |
| Why does one need a HGV Policy? | | | | companies give discount as an introductory package |
| The prominent reason an insurance policy is required | | | | to new customers, which can up to 60% of the |
| for every vehicle running on the road is per the legal | | | | original amount. The owner/operator should try to |
| policies of the state. But there are other important | | | | learn complete knowledge of general trade tariffs |
| reasons as well: | | | | and protocol so that he does not ends up paying for |
| * It provides a sense of security and defence against | | | | an already expensive insurance. Usually, the premium |
| unforeseen losses on account of damage to the | | | | amount should vary according to the extent of |
| vehicle, as well as the goods that the vehicle is | | | | coverage the operator wishes to get. |
| carrying. Thus even the customer feels secured, and | | | | What is a good policy? |
| not just the owner of the truck. | | | | A good HGV insurance policy should cover following |
| * Legal hassles can be much simpler if you have | | | | areas: |
| insurance. | | | | * Goods in transit coverage |
| How expensive is it? | | | | * Public liability coverage |
| The premium amount of an insurance policy depends | | | | * Employer's liability coverage |
| on the value of the vehicle and the risks it | | | | * The Insurance provider must be easily reachable |
| undertakes, which in a HGV's case are both very | | | | and have business contacts widely over the country. |
| high. The cost of insurance of HGVs tends to be on | | | | Is cheap HGV insurance good? |
| these accounts and operators feel this poses an | | | | A HGV insurance policy is inevitable; even though it's |
| extra burden on them. But there are certain insurers | | | | cheap, it can work for the operator and the |
| who now sell HGV designed policies. In such policies, | | | | customers. It provides safety for the contents as |
| the premium can be paid yearly or even monthly. A | | | | well drivers in case of theft, accident or damage. |
| full coverage can be expensive, but a HGV insurance | | | | While a second hand vehicle and an unqualified driver |
| package might be reasonable. | | | | might cut down on costs of running, it will certainly |
| How to find the right policy? | | | | raise the HGV charges and make the effect even. |
| A general policy can be no use for a HGV, because a | | | | |