The easiest way to get cheap HGV insurance is on a named driver basis.  This means that at the inception of the policy the drivers must be named i.e.  John Williams & Peter Brown.  The insurer will often request the drivers licences to be emailed through.  If in the situation where a driver has convictions like a DR10 or CU80, then  the insurer may decline to offer insurance or it may apply an additional premium which will be added to the policy.  The problem with named driver policies arises when somebody is off sick or on holiday, this means that either an Agency driver or friend needs to cover the HGV driver’s work.  In some situations, particularly at the moment, it is difficult to find good HGV  drivers and particularly with Brexit it applies further problems.  The cost of living crisis has meant that in certain situations, people are cutting back on general retail consumption and therefore, the volumes to the haulage industry are lower than they might otherwise be.  If you are a new start operator or just setting up in the haulage industry, then to contain costs and keep your overheads down, it is probably advisable to just have named drivers.  If your business grows over a period of months or years, then there would be an increasing case to switch to any driver truck fleet insurance.  With these types of policies, the claims are calculated annually in a fleet rating schedule.  The named policies purely carry years of no claims bonus.  This can go up to a maximum of 5 years or in some cases 9 years bonus.

What insurance will I need

If you are moving into the haulage industry you will need various things.  You will need a well thought out business plan with accurate costings.  You will need trucks which can be either financed or bought outright.  You will need good quality well trained drivers, who are reliable and wont let you down.  You will also need cheap HGV insurance.  Rates will vary depending if you are using a 44 ton or 32 ton HGV.  The type of work can also have a bearing on the premium.  E.g. if you are transporting hazardous goods, loadings will inevitably occur.  It is also advisable to check out fully the excesses and whether the policy is comprehensive or third party.  If you are doing international work then the old Green Card has now been replaced and you will need to check out that the cover is included.  Also you will need Goods in Transit Insurance and a specialist Broker like Evans and Lewis Insurance to sort it out for you.  Usually, International insurance is done on a CMR basis and is a maximum value of any one load.  If you are transporting high value good like TV’s or wines and spirits, you need to check that there are no exclusions that prevent these products being covered.  Again it is always advisable to use a reputable Broker who really understands your market and can provide advice and give you a greater understanding of what you need.

Questions from Haulage owners

Most haulage companies start out with just one truck.  Haulage operators ask many questions like, how can I find cheap HGV insurance?,  Who is the best for single truck insurance?, Can I add vehicles to my policy half way through?, Can I get truck insurance with zero deposit and spread over 12 months?, Can I cancel my policy with no penalty?, Who is the biggest truck insurer in the UK?, Will my NCB bonus be transferred to an any driver HGV fleet policy?, Who will deal with my insurance claims?, Is there any restriction regarding younger drivers?, Will drivers under the age of 25yrs old be allowed to drive?, Can newly passed drivers drive my trucks?, Are there any mileage or geographical restrictions?, Is windscreen cover included on my HGV insurance?, will trailers attached or unattached be covered?, What are the advantages and disadvantages of a fleet policy?, Will my policy cover EU drivers?, Will my policy cover a driver of any age?, What is the upper age limit for drivers?  As you can see, there are a host of questions that need to be answered and there are always advantages and disadvantages of various policies.  The pros and cons need to be weighed up with the advice of an HGV broker to ensure you have all the correct information to make an informed choice about your purchase.  We strongly feel that Evans and Lewis Insurance can provide all that is required for any haulage operation in the Uk to obtain cheap HGV insurance.  For further information please look around our website and if needs be you can give us a call on 01782 660590.

 

Get a Truck QUOTE NOW!