subject: A third type of HGV insurance known as the haulage exchange policy [print this page] A third type of HGV insurance known as the haulage exchange policy
The number of accidents involving HGV or heavy goods vehicles has risen, particularly on days where rain and fog makes visibility and driving an issue for drivers. HGV insurance is therefore an important part of owning and driving a HGV vehicle, in order to make sure that both driver and vehicle have the right amount and type of cover.
HGV insurance does not necessarily need to be expensive. There are a number of cheap HGV insurance quotes available which means that the owner can receive quality coverage at a more affordable price. Nonetheless, it is essential to familiarize oneself with the basics of HGV insurance before buying, as this will ensure not only will you then be able to find a cheap HGV insurance quote, but you will also be able to get coverage for both your driver and your vehicle.
There are two different basic types of heavy goods vehicle insurance available to HGV drivers or owners. The first is a public liability policy, which offers coverage against damages caused to the business by the general public. The second type is the employer liability policy. Although this does not provide cover in the event of road accidents, it does provide cover for damage caused by a range of accidents which may occur on and off the business site. In order to have the correct cover in case of a road accident, the owner will need to take out a motor insurance policy. This is a type of policy designed especially for the employer or owner.
A third type of HGV insurance known as the haulage exchange policy offers coverage against damage caused to the goods or cargo which are being carried by the HGV. The owner can possess this policy for a shorter term, over a period of a few months for example, or over the course of a year. The former is particularly helpful if the owner intends for the HGV to be in operation for a limited period. This is also an excellent way of getting a cheap HGV insurance quote, as the owner will not have to pay for time she or he is not using.
There are many ways to find a cheap HGV insurance quote. The internet has a wide range of sources available offering information on various types of HGV insurance polices and quotes. Comparison websites can be a useful tool, but be sure that they are unbiased so that they are not suggesting a particular company purely on the basis that they are endorsing them. First hand accounts and reviews are an old, but tried and tested method of finding out what options are available, and some websites which allow owners to compare different policies before buying also offer a large rebate on the premium amount to be paid for the policy.
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