subject: Comprehensive Hgv Insurance Is A Must For Logistical Businesses [print this page] Many businesses that transport freight or utilise logistical operations require HGV insurance to operate lawfully. Although you are required by law to have HGV insurance to operate lorries and other heavy goods vehicles, you can choose either a third party policy, a third party fire and theft or a comprehensive one.
A third party policy is generally cheaper than comprehensive and because of this it can appeal to business who have tight logistics budgets, although it will not insure your heavy goods vehicle or its freight in the case of an accident, fire or a theft. A third party, fire and theft insurance policy will cover you further and you would be able to claim in the care of your heavy goods vehicle being stolen, or set on fire, however it still does not provide the great level of added cover which comes with comprehensive.
There are numerous advantages to having a comprehensive HGV insurance policy, and these factors should be considered if you are looking to use a heavy goods vehicle for business logistics. The type of comprehensive policy you will receive however depends on what type of logistical operation your business is running. If you are using heavy goods vehicles to carry your own freight, you will only need a comprehensive HGV insurance policy that will cover this area. However if you are a haulage company or you wish to carry other businesses freight at a charge you will need more specialised haulage insurance.
Comprehensive insurance generally covers you for extras such as windscreen damage, but other extras will depend on the type of heavy goods vehicle insurance you require. Most insurers understand that a comprehensive HGV insurance policy for haulage is the most expensive and this can place large cash flow issues on smaller haulage businesses. However many will offer numerous discounts to help reduce the cost of the insurance to your business. Discounts on insurance are often given to business that use experienced heavy good vehicle drivers, and if you wish to have more than one lorry or heavy goods vehicle insured.
If you are looking to take out HGV insurance for business logistic operations you should not be put off by the costs quoted at first. It is often likely that you will be able to qualify for a number of discounts that will reduce the cost if you go though a specialist HGV insurance broker.
by: Neil Anderson
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