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Is Cheap Truck Insurance Available In The UK?

Is Cheap Truck Insurance Available In The UK?

HGV insurance has changed alot in recent times. With Brexit you may believe that cheap truck insurance premiums are not to be seen again in the UK. While Britain has started the process of leaving the EU, it doesn't fully occur until the trade talks are concluded at the end of 2020. This leaves the motor trade industry and indeed the insurance houses in a little bit of a dilemma. Whether you live in Birmingham or London, Edinburgh or Southampton, while insurance costs can be based on local crime levels, many insurance houses are residing in the EU. Not only that, but if you are in haulage and do long haul transportation across Europe traversing European country borders, you also rely on a huge network of motor vehicle repairers, breakdown recovery services and a parts supply chain that stretches the entire continent.

The wheels of the economy continue to roll on however. There are hundreds of thousands of truck drivers, both new venture and old hat, new start ups and historic transport companies and all need ongoing truck insurance that is competitive and if possible, still the cheapest truck insurance for their business outlay. The most dramatic changes in UK insurance for the motor trade will probably not be Brexit at all, but that of the introduction of electric vehicles.

How To Ensure Cheap HGV Insurance Meets A Driver's Needs

Whether you are an owner driver or a fleet manager looking after hundreds of vehicles, there is one thing that is certainly clear. There are advantages and benefits to be found in every part of an insurance policy and it only takes the keen eye of a professional motor trade insurance broker to figure out which is best for you. Each and every truck insurance policy is tailored to your specific needs. This is the main way to ensure a cheaper truck insurance policy. Narrowing down on need, excluding the unnecessary cover. There is no sense in eradicating coverage that you actually need. For instance if you transport goods and half of the time they are your own and the other half the products carried belong to another company. If you only purchase cover for Carriage of goods for hire and reward and not Carriage of own goods because you feel it is unlikely anything will happen and your own goods  and HGV vehicle could be written off... It's not that simple.

Insurance exists for events that are unknown, but that are calculated to occur and be allocated money to repair and replace should the event happen. If everything goes wrong at once, worst scenario your warehousing and parked trucks all get written off. It has happened before. While your buildings insurance will kick in, the combined motor trade insurance lifts off and comprehensive or Third party, fire and theft tackles the blaze damage in the forecourt, being left with a loss of possible millions in lost goods is a position your business may not recover from.

Comparing Cheaper Truck Insurance Online In An Instant

Today it is possible to get a basic quote online within minutes. Enter vehicle details, whether you are  a young driver or a new venture. Need fully comp or just third party. Answer questions pertaining as to carrying expensive tools, describe your exact industry. Being in haulage that could be transporting luxury vehicles to delivering perishables up and down the country. Even if you require EU green card cover and insurance for crossing borders across Europe and the Middle East all of these can be factored in and quoted for. It is not necessarily correct that the more clauses you opt for, the more expensive the truck insurance policy. To compare all the best rates you need to learn exactly how the market works. In fact if you have a fleet of vehicles, whether all the same or different you can often benefit from cheap truck insurance in the UK if you have them all listed on one single policy. It is much easier to manage monthly premiums, see lower claims costs and benefit from grouped no claims bonuses.

There will always be cheap truck insurance in the UK, the key is to ascertain what that cheapness reflects. Is it a really good discount while also being the best truck insurance for your business? If your vehicle breaks down is it covered for the entire route, is the network fast for parts replacement. If you need a replacement truckor HGV will it arrive promptly. Windscreen smashed... and if your goods do get stolen how quick a turnaround on recovering monies so the contract you signed with a business client can be completed. They say there is no such thing as a free meal. There definitely isn't in the motor trade industry. There is cheap truck insurance if you compare policies online and use a specialist motor trade insurance broker to speak to underwriters and get the best deal for your exact business and operation. Find out today.


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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