The necessity of Heavy Goods Vehicle insurance

Each and every vehicle needs to be insured before it can be driven on the public highway. The reason for this is to ensure that all drivers are protected from damage resulting from vandalism, accidents, fire or other incidents which may be covered by individual policies.

The individual policy required by each vehicle is determined by a variety of factors, including its make and type and one of the most important types of policy are those which insure heavy goods vehicles.

Most providers of insurance for heavy goods vehicles have their own websites which allow clients to obtain a competitive package almost instantly and be able to choose a payment method at the same time. However, it is wise to consider using the services of an insurance agent as their specialist knowledge may well prove to be invaluable when buying insurance for heavy goods vehicles. A broker will be able to establish the most suitable policy for your business and negotiate a good deal from providers.

HGV insurance includes two very important elements; employers’ liability and public liability both of which provide cover for employers against damages to the business by members of the public, however it is important to remember that these insurances do not cover employees.

Employers Liability provides cover in the case of accidents caused off or on company premises. Other injuries which have been caused by accidents on the road will be separately covered by the employer’s motor insurance.

Some HGV insurance policies include haulage exchange; this allows the insured to subcontract the loading element of their operation to other parties. This type of policy costs more as it has been identified as a growing risk due to the high number of items that go missing whilst on the vehicle. On the other hand, it provides comprehensive coverage to the goods being carried as well as the lorry or van being used.

HGV insurance is only appropriate and available for vehicles which have a combined weight of 7.5 tonnes and when cover is required to extend to the insured, the vehicle driver and the customers of the business.

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