Truck Insurance Comparison FAQs

Do I Have To Have A Goods In Transit Policy With My Lorry Insurance?




Do I Have To Have A Goods In Transit Policy With My Lorry Insurance?

New haulage operators will ask questions like: ‘Why have goods in transit insurance?’ ‘Where can I get these policies?’ ‘Who will provide the best GIT quote?’ ‘Does having inexperienced, newly passed drivers or HGV drivers over 75 make a difference?’ ‘If the gross vehicle weight is high, will the price compare to smaller vehicles?’ They might also ask, ‘How can I reduce the cost and find a discount broker who can explain all the advantages and disadvantages of policies for heavy goods vehicles?’

Good in transit insurance protects haulage companies that find companies making claims for lost or damaged goods. Low cost discount policy .The number of claims versus the amount of the claims will determine whether low cost discount policies are available to cover your goods in transit. For example, If you're working for amazon they generally require 100k indemnity level on any one claim. Comparatively, if you are looking for goods in transit policies for maritime, the same levels may apply.

Levels of cover vary. You should also consider the maximum and minimum levels of cover you require and whether you need cover in Europe or just in the UK. CMR cover allows you to be covered from the port to your final destination where the goods are unloaded. Certain policies will cover £6,500 of goods in transit level per tonne whereas other policies is fixed amount any one load. Whether you have a HGV insurance fully comp or third party, this will not affect the value of the goods on the trailer. Finding a competitive goods in transit quote for your truck is vital to maintain running costs regardless if having old or under 21 HGV drivers. If you are an owner driver you might find yourself asking: ‘Where do I find a policy that covers me for the amazon work as a regular owner driver?’

These are specialist haulage policies as in certain situations, Amazon may have high value goods in transit for example, mobile phones or TVs. If you explain your specific requirements, the broker can then compare low cost and discount options and what is available to suit your business. The level of cover will affect how the premium is calculated where specific products have different values. When you find the right policy, be sure to check all the details regarding the area of coverage as new Brexit regulations may change rules in the EU.

Further things to consider when looking for the best quote in the market online consider different excess levels for truck drivers under the age of 21 years old. Often enough goods in transit policies can be found with 0% deposit and the payments can be spread cheaply over the year. Whatever load you are carrying, the broker can explain the various options available for your lorry fleet insurance.

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Do I have to have a goods in transit policy with my lorry insurance?

New haulage operators will ask questions like: ‘Why have goods in transit insurance?’ ‘Where can I get these policies?’ ‘Who will provide the best GIT quote?’ ‘Does having inexperienced, newly passed drivers or HGV drivers over 75 make a difference?’ ‘If the gross vehicle weight is high, will the price compare to smaller vehicles?’ They might also ask, ‘How can I reduce the cost and find a discount broker who can explain all the advantages and disadvantages of policies for heavy goods vehicles?’ READ MORE