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What Effects Will Brexit Have On Lorry Fleet Insurance?
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.
There may be an increased number of customs checks on goods entering and leaving the EU slowdowns in operating times. This potential increase in red tape at the EU borders such as the need for new permits and licences means there are further hurdles when transporting goods, waste, recycling within the EU whether you are a young, old, experienced, inexperienced driver. The delay in operating times may also have a knock on effect on your costs of operating. These factors may have the potential to affect HGV insurance prices therefore it is vital to find a broker than can provide cheap, affordable and competitive insurance. You may want to consider brokers that offer introductory offers, no claims bonus [NCB] and those offering zero percent interest on lorry fleet insurance. These can apply whether you are operating a tipper, an articulated truck, concrete mixer trucks etc.
Brexit could mean the end of free movement of people and goods. This could result in a greater difficulty in employing EU drivers to transport goods from EU countries to destinations in the UK due to possible changes in legislation. With this, there may be less EU drivers operating in the UK and an increase of UK drivers driving goods from the ports to their end destination in the UK. You may ask, how can you find cheaper HGV insurance for your drivers operating scaffolding HGVs, for example. The average cost of insurance is on the rise due to rising claims intercity. Even if you are a new venture or a start up employing new drivers, it is possible to get a competitive rate on you lorry fleet insurance by comparing different brokers and considering the different promotions they offer.
There is already a shortage of drivers and an increase of insurance costs in the haulage industry. With Brexit, this shortage could potentially worsen. This could lead you to hiring younger, less experienced drivers increasing the cost of your lorry fleet insurance. As there is increased competition between brokers, you may find that if you compare different insurance providers you will be able to find a reduced insurance price for diggers, tippers, articulated trucks regardless of the age of your drivers. Some brokers may even offer finance options from Aviva or Axa for a range of trucks such as Mercedes and MAN.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