If you own and drive your own Heavy Goods vehicle (HGV), insurance is one essential you need to get right. Whether you’re looking to insure one truck or you’re responsible for a whole fleet, here’s our essential guide:
Guide to lorry insurance
If you drive an HGV, then it’s a legal requirement to have appropriate insurance. Just like car and van insurance, as a minimum this will need to be third-party cover. This pays out to another party if you cause any injury or damage. Third-party, fire, and theft HGV insurance covers you if your vehicle is involved in a fire or is stolen as well as your third-party responsibilities. Or opt for fully comprehensive cover if you want to cover others and your own lorry against damage caused as a result of an accident. There are also options to that will pay out to replace a broken windscreen, as well as medical or legal expenses in the event of an accident.
When do I need HGV insurance?
A Heavy Goods Vehicle (HGV) is anything over 3.5 tonnes. It’s also sometimes referred to as a Large Goods Vehicle (LGV). Even relatively small 2-axel vehicles can fall into this category. For more information, see the government’s guide to lorry types and weights.
How much will HGV insurance cost?
The cost of your truck or lorry insurance will be determined by a number of factors. These include the age of the vehicle and driver, lorry value, and use.
Do I need truck insurance if it’s not being driven?
Yes, you’ll need to insure your HGV even if it’s not being used unless it is registered as off the road (SORN).
What sort of cover do I need?
Some drivers will have fairly straightforward requirements. For others it could be more complicated. Talking to a broker from an expert HGV insurance specialist, like Easy2Insure, can help you to make sure you get the level of cover that you need, without paying for anything that you don’t. For example, you might want to consider the following in addition to your HGV insurance to build a bespoke package:
- Goods in transit insurance – to cover the cost of any goods you are moving if they are damaged or destroyed when you’re on the road
- European cover – if you’ll be driving in Europe as well as the UK
- Multiple driver cover
- HGV breakdown cover
- Legal costs insurance
If you run a business, buying other types of insurance as part of your HGV insurance bundle can make financial sense. Other areas of truck insurance to consider might include:
- Public liability insurance
- Employer’s liability insurance (this is a legal requirement if you employ any members of staff, even if they work part-time or are contractors)
- Personal injury insurance – covers you for lost wages if you are unable to work because of an accident or illness
- Commercial property insurance – if you have business premises
Fleet HGV insurance
If you have a number of trucks or lorries, fleet insurance can offer value for money cover. Fleet insurance can cover fleets from as little as two vehicles.
Privately used truck insurance
In some cases, your HGV may not be used commercially. For example, this could be if it is a vintage truck or for some larger motorhomes, which fall into to he HGV category. In these cases, you’ll need to speak to an HGV insurance specialist like Easy2Insure to make sure you’re not paying-out over the odds for commercial cover. We also have a specialist team for HGV horsebox insurance, catering to the specialist requirements of travelling with animals.
Making sure your HGV insurance is valid
For your HGV insurance to be valid, every driver must hold a valid Driver Certificate of Professional Competence (CPD). For your Driver CPD you’ll need to complete four tests and take 35 hours of training every five years. Don’t forget that you need to renew your lorry licence every five years after you reach 45 years old and every year from the age of 65 years old.
Ways to reduce your HGV insurance premium
Don’t skimp on the level of cover you take out, but follow these tips to keep premiums as cheap as possible:
- Increase the excess. This is the amount you automatically pay if you make a claim. Generally, the higher the excess, the lower the premium
- Don’t pay monthly. You’ll pay more if you opt for monthly payments, so if you can afford to pay in one go, do pay annually
- Shop around for the best price. As with all insurance cover, it pays to shop around. Different insurance companies can offer very different premiums for the same level of cover
Get cheap HGV insurance for your truck, lorry or large van
Not sure where to start looking for the best price on HGV insurance? Let our expert staff shop around on your behalf. Our specialist team understands the technical details of HGV insurance, for great value and confidence that the cover we secure will be right for you. For a no-hassle, free quote, call us on 0800 9179522 or get a quote.