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The Importance Of Haulage Insurance
It is not just cars that must be insured on British roads
, every type of motor vehicle is required by law, to have at least third party insurance.This includes Lorries and Heavy Goods Vehicles (HGVs), which are typically used for business or commercial purposes.
A lorry or HGV drivers licence is an upgrade of a traditional driver's licence and whilst drivers may be insured to drive their own car, they need separate lorry or haulage insurance.
Lorry and haulage insurance is offered as a specialised policy and there are many types to choose from. From a business point of view it is essential a policy is chosen that offers suitable cover for employees and any goods or equipment they carry.
Be sure to check the wording of the policy carefully, as some third party policies do not insure stock or equipment that is being transported on behalf of a client.
Policy owners cannot employ people who have been disqualified from driving within the past five years. If they have been disqualified for a period outside of the five year bracket, then there is no problem for policy owners to hire them.
Where possible, opt for a comprehensive insurance policy. It might be more expensive, but it will not be as costly as legal fees from a client whose stock has been damaged as a result of an accident involving one of your Lorries.
There are three main additional covers available with lorry and HGV insurance. Goods in transit insurance which protects against damage or destruction. Public liability, which covers you should an incident or accident involve a client or a member of the public and European insurance, which covers any vehicles which are driven abroad for business reasons, although this only applies to those travelling with Europe.
The cost of your policy is dependant on the driver's age and experience, the type of vehicle they drive and whether or not they have any driving convictions. Other aspects such as, the size and nature of the load transported, who owns the load and any modifications to the vehicle, in addition to the type of lorry it is and its length, will also have been taken into account when you are given your final quote.
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