Truck Insurance Comparison FAQs

How Do I Find The Cheapest Truck Insurance Price Available?




How Do I Find The Cheapest Truck Insurance Price Available?

Research 

Research is the key to finding affordable truck insurance. As with purchasing any type of insurance, it is vital to shop around and get multiple quotes from several different brokers. Many truck insurance providers can be found online and it may be possible to get a more competitive quote if you approach several companies. This will ensure you have found the cheapest truck insurance price available. Some providers will tailor packages specially for you, others will have pre-set packages. You will need to consider your own individual needs and priorities when finding the best deal.   What will the broker ask? In order to calculate your insurance premium, a broker will ask you several questions about your business, the vehicles and drivers you may want to insure. Key questions will include any previous no claims bonus and previous premiums/quotations. 

The types of questions that will be asked include but are not limited to: 

Your business: 

  • Are you an owner driver? 
  • What type of insurance does your business need? 
    • New start? 
    • Haulage insurance? 
    • Fleet insurance 
    • Skips/ waste insurance? 
    • Couriers insurance? 
  • What type of coverage do you need? 
    • Fully comprehensive? 
    • Third party? 

The vehicles:

  • What is the gross vehicle weight? 
  • Do you need insurance for heavy goods? 
  • How old are the vehicles? 
  • How many vehicles do you want to insure? 
  • Do you have any cameras or telematics insured? 

The drivers: 

  • How old are the drivers?
    • Drivers under 21?
    • Drivers over 70? 
  • How much experience do the drivers have?  
    • Newly passed? 
    • Experienced drivers? 
  • Do the drivers have any driving related convictions? 
    • Drivers with points?
    • Drink drive convictions? DR10 

Choosing a broker

When trying to find the most affordable insurance premium for you, you may also want to consider the different benefits the broker provides. You should weigh up the advantages and disadvantages for choosing a particular broker. This could solely be cost related or you can further consider the additional services they provide.

Things to consider: 

  • What does the broker offer? 
  • Introductory offers for new starts?
  • Tracker and camera discounts? 
  • Service van on fleet policies? 
  • Complete package with GIT and Liability? 
  • Low excess? 
  • Mirrored bonus for additional trucks? 
  • Low rate discounted breakdown cover? 
  • Windscreen cover? 

What else should I consider? When trying to find a more competitive quote, you may consider the brokers value added services. 

This can include: 

  • EU cover for vehicles in transit 
  • Green card for trucks going to Europe 
  • Legal expenses cover for up to £100,000
  • Low excess to suit individual needs breakdown and recovery in the UK and Europe 
  • Young drivers under 25 covered 
  • Low deposit options for owner drivers 
  • 0% deposit 
  • Financing options 

 

Truck Facts


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How do I get cheap HGV insurance?

Running a fleet of HGV vehicles? Do you want to find a lower insurance premium? If you are running a fleet of HGV vehicles then it’s very important to look at all costs across the board. With recent HGV driver shortages, it is likely that you will be looking to get a newly passed HGV driver under 25 to drive for your company. Alternatively, you might take an older driver who would be either over 70 or maybe 80 years old. In these situations, you may also find inexperienced drivers, newly passed drivers or drivers with points on their licence. This can make getting affordable lorry insurance harder. READ MORE

How do I get cheap HGV insurance for older drivers?

In the current haulage insurance market, it has become increasingly difficult to source good quality HGV drivers. A lot of the younger generation are veering away from the haulage industry to more modern careers. There are also significant costs for the individual driver to gain either a class 1 or 2 licence. Therefore, an advantage of employing older, more experienced drivers is that it can reduce your costs and reduce claims saving you money. If you are a new start haulage operator and a member of the Road Haulage Association you will have no doubt be informed of the Brexit changes. This may mean that more containers are moved on heavy goods vehicles, usually articulated tractor units, from the ports to the end destination. READ MORE

What are the different types of insurance for HGVs with young drivers?

Newly passed drivers arriving into the haulage industry will have undergone significant driving to pass and attain their Class 2 or 1 licence. The term HVG or heavy goods vehicle relate to vehicles governed by Vosa from 4.5 tonne to 44 tonnes trucks. Nearly all businesses rely on road haulage in some way or another. The benefits of finding cheap insurance for HGVs means that the small business will be more competitive with lower costs that other haulage operators whether you are running a truck in Manchester, Birmingham, London or elsewhere. Younger drivers with little or no experience present an issue to insurers as they may have a high risk rather than a lower risk. READ MORE

What effects will Brexit have on lorry fleet insurance?

Brexit comes with a great deal of uncertainty within the haulage business having a knock on effect on the price of lorry fleet insurance for HGVs [heavy goods vehicles]. If you are operating within the UK, for example, Manchester, Birmingham or London, although you may still be affected by Brexit, haulage and fleet operators travelling to and from the EU will be the ones most affected by the upcoming changes. There will inevitably be changes in the way haulage providers operate and the costs involved in their operation, such as insurance prices. READ MORE

How do I find the cheapest truck insurance price available?

Research is the key to finding affordable truck insurance. As with purchasing any type of insurance, it is vital to shop around and get multiple quotes from several different brokers. Many truck insurance providers can be found online and it may be possible to get a more competitive quote if you approach several companies. This will ensure you have found the cheapest truck insurance price available. READ MORE

Can I get a driver lorry fleet insurance policy if a driver has convictions?

Fleet insurance is a type of insurance which will cover several vehicles, two or more, all under one policy. This proves beneficial for businesses such as haulage and couriers with many vehicles. This coverage is flexible as to who is covered. Policies range from named drivers for specific vehicles to any driver driving any vehicle. A factor will affect the affordability of your insurance is if the driver has an convictions or endorsements on their license. It is possible to qualify for a driver lorry fleet insurance policy even if a driver has convictions. READ MORE

How will driverless trucks affect HGV Fleet insurance prices?

The government has made large and several investments into the research and development of automated vehicles. This is due to their belief that automated vehicles have the potential to make road transport safer and more efficient for all. Yet, with HGV vehicles, qualified drivers will still need to be present in the vehicle until a method of safe driverless long-haul routes is implemented therefore the human element is still vital in the operation of driverless HGV trucks. READ MORE

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