Your HGV is linked closely to your livelihood, and it is essential that it is adequately protected for both your well-being and your business. Here we discuss private HGV insurance, and how it can protect you on the road.
To drive a heavy goods vehicle on the UK road network, you must have a valid operator’s licence, which ensures proper and safe use of goods vehicles. Without a licence, your vehicle could be impounded, and you could be liable to face prosecution.
Operating an HGV business can be costly without an adequate level of protection. You can never be completely sure that everything will go ahead as planned whilst travelling on the road. No matter how good a driver you may be, accidents happen, in many cases due to mistakes by other road users.
Over 6,000 HGV crashes are estimated to take place each year in the UK. With this in mind, it is vital that your HGV is properly insured to protect the future of your business.
Private HGV Insurance Coverage
Private HGV insurance cover can contain a wide range of features, no matter what your business is, and whether you need cover for goods or tools in transit. There are certain exclusions to the types of goods that can be covered, so it is important to check with adequately covered.
Additional policies for misfuelling as well as breakdown cover can be invaluable for scenarios you cannot always foresee. Extras such as legal expense cover and public liability can also be added to an HGV insurance policy.
Cover for refrigerated trucks, cherry pickers and the carriage of hazardous goods can also be included in certain policies.
If you have an HGV for leisure use, such as a motorhome or horse box, policies can be tailored to your specific needs. European cover is available to reassure you if the worst should happen if you drive on the Continent.
Some policies also allow for driver conviction and accident histories, so insuring your HGV vehicle under adverse circumstance may well be possible.
Types of Private HGV Insurance
Each policy can be tailored to your business or individual needs, however any insurance policy will include a minimum of third party cover, which is legally required. Some other additional features include:
- Roadside assistance: This can be added to your policy for the event of breakdowns or mechanical failure.
- Legal expenses: Your provider can help towards legal fees incurred if you are taken to court by a third party claim.
- Fully comprehensive cover: Fully comprehensive cover offers additional protection for your vehicle and property, as well as additional cover for personal injury.
- Public liability: Liability claims are common from third parties, and if a court rules against you, the cost can be significant. This could easily impact your business, and perhaps close the profitable HGV haulage company you once had. It usually makes sense to include adequate cover for public liability within your policy if you don’t have cover for this in another business policy.
- Incapable to drive: Temporary loss of your operating licence or sickness can leave you unable to earn an income and drive. Cover can be added to your policy to cover income loss from, for example, recovery from an operation or short-term illness.
An insurance provider specialising in HGV insurance can provide you with a policy that meets your business or self-drive coverage needs, ensuring that you only pay for cover that is essential for you.
The cost of coverage depends on a number of factors including the experience of the driver, the number of HGVs, the type of cargo that is handled and the age and value of the vehicle or vehicles.