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How To Get Cheap Haulage Insurance For New Start-Ups?
How To Get Cheap Haulage Insurance For New Start-Ups?
If you have decided to start a haulage business insurance can be a minefield — but it doesn’t need to be! We’ve put together this handy little guide because haulage insurance doesn’t need to be complex. To get a broader explanation and learn exactly what insurers need follow the link. As you probably already know haulage cover is mandatory for drivers who make long-distance deliveries and usually only make one drop off per delivery. As you will also probably know, if the vehicle you are using to transport the good is over 3.5 tonnes you will need HGV insurance. This is also sometimes called trucking insurance or truckers policies.
Sole Trader Haulage Insurance
Sole trader van insurance is mandatory for drivers who are self-employed and working as a sole trader. To know the advantages and disadvantages of a cheap sole trader any driver policy see our page. This is different from a private van insurance policy insofar as the policy will cover the van (and potentially it’s contents depending on the level of cover chosen) for business rather than personal use. This type of insurance will be required for anyone who is self-employed ad uses their vehicle to deliver goods.
Fleet Haulage Insurance
If you are a start-up business and have over two vehicles (of any type) you will need to look into a cheap fleet insurance policy. We can offer knowledge and information to give you a greater understanding of the HGV market. There is no restriction on the number of vehicles you can have registered on your fleet. Anyone can drive one of your fleet vehicles, including family members and, also subcontractors. Remember though that the onus is on you the insurer to make sure the driver has the proper licence and training in place to drive one of your vehicles. Here all the benefits and draw backs of a lorry insurance policy look it up. You will be able to use your vehicle in the EU but it is worth remembering to keep an eye on what will happen with BREXIT legislation post-December 2020.
Public Liability Insurance
What is public liability insurance? Public liability insurance is one of the main types of business insurance required by all types of companies. For more facts and a better insight on how to save money in the haulage sector see our faqs. Cheap or expensive HGV Insurance with Public Liability insurance, in essence, covers your business if a member of the public, customer or subcontractor suffers and injury or their property has been damaged during the course of your business activities. So, for a start-up haulage company or owner operator running 2 or more trucks, this could be critically important as the dangers and potential risks involved in going about your business are many.Truck Facts
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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
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
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
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
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
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
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
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