Thousands of businesses uses lorries and other “heavy goods vehicles” (HGVs) to bring their goods to them from the places of production and to ship them, in turn, to their customers. Insurance on these vehicles is of tremendous importance because they are extremely vulnerable to accidents: An articulated truck or lorry that weighs 44 tonnes (the maximum weight allowed for such a vehicle in Great Britain) when fully loaded can suffer – and cause- extreme damage if it is overturned on the road, and all the more so if it falls down an incline. The loss suffered in destroyed goods is no less.
In Great Britain it is unlawful to drive a lorry without having an adequate insurance policy in place. This article will describe the various kinds of coverage and how to get quotes.
What haulage insurance covers and what to seek
The purpose of insurance is to protect the owner of the truck against financial loss in case of theft, fire, traffic accidents, storms and the like. Every policy will include a clause that states the amount up to which the holder is insured and there may also be a trailer interchange agreement under which the driver is responsible for damages caused by another party using the vehicle. The cargo may be insured separately.
Motor fleet insurance
Many companies that own a whole fleet of lorries for delivery purposes decide to buy motor fleet insurance because it is often cheaper to insure a whole group of vehicles than it is to insure them individually. It is also much simpler to administer since only one renewal date needs to be remembered. If the holder wishes to add other vehicles to the insurance policy, he or she need only make a request – while the policy lasts – with the company, which will include an additional premium based on how much time is left till it runs out. In order to ensure that the policy is valid, the holder has the responsibility for making sure that all claims histories and convictions, if any, are declared.
Lorry insurance quotes
There are many places on-line where you can get quotes to compare lorry insurance. The typical site will have you fill in the following information:
- the number of vehicles you want to have insured
- the vehicle registration number, if you know what it is
- what make of vehicle it is (pull-down menu)
- what model
- the year in which it was made (pull-down menu; may go all the way back to 1901)
- type of lorry (pull-down menu; categories include articulated [flat-bed, curtain-side, refrigerated] and rigid [concrete mixers, skeletal tipper] lorries, vans [box, refrigerated, tipper], tankers [articulated and rigid], specialist [pick-up, horse box, livestock carrier, fork lift] and miscellaneous)
- gross weight (in tonnes; pull-down menu gives ranges)
- total monetary value
- business postcode
- goods carriage basis (whether you own or hire and reward)
- coverage area (UK only, Europe or worldwide)
- lorry drivers (insured only, insured and named driver, insured and 2+ named drivers, any driver over 21 or 25)
- no-claims bonus (none or choose number of years)
- whether the vehicles are used to transport hazardous material
- type of operator’s licence (national, international or restricted)
- type of HGV licence (none or choose class 1, 2 or 3)
You also fill in your contact information and choose an insurance start date.