Accidents involving heavy goods vehicles or HGV vehicles have become increasingly commonplace on days where there is low visibility due to rain or fog. This is one of the many reasons for buying HGV insurance. It is a common misconception is that heavy goods vehicle owners must buy a costly policy before they can adequately cover their vehicle, but the option of cheap HGV insurance is available, if the basics of HGV insurance are made clear.
As the vehicles and the cargo or goods are very expensive, finding cheap HGV insurance is important. Haulage vehicles weigh more than four tons and they are used to transport many different types of cargo from heavy goods to dangerous products such as bio chemicals or explosives, so the right cover needs to be found for each instance. In general, the amount of premium determines the extent of coverage. Initial coverage from most HGV Insurance Companies will offer introductory discounts of up to 60 percent. It is a good idea to enquire regarding competitive operators or owners and fleet rates along with great United Kingdom and international haulage rates. The insurance should include public liability,Goods and Transit coverage and employers liability coverage. As a policy owner, you should also have access to any leading HGV Insurance providers.
.There are two options available to HGV owners regarding insurance. The first is the public liability policy, which provides coverage against any damage caused to the business by the general public, and covers employers and the vehicles. The second is known as the employer liability policy and provides cover against damages caused by accidents on or off-site. It does not, however, provide coverage in the event of damage caused by road accidents, for which a separate form of insurance would be needed, the motor insurance policy this is specifically designed for the employer or the owner.
A new type of insurance specifically designed for HGV is the haulage exchange policy, which provides cover against any damage caused to cargo or goods carried by the heavy goods vehicle. This policy can either be purchased for a certain term of the year or for the whole year. The shorter term option is useful if the owner is only operating for a limited amount of time, rather than purchasing years worth of insurance and therefore saving money.
When looking for cheap HGV insurance, the internet is an invaluable resource, with many websites offering complete information about the different types of policies available and allowing owners to make comparisons to determine which is more cost effective before buying. Large rebates are available on the premium amount to be paid for the policy if owners buy cheap HGV insurance from these websites.
With so many options available, choosing the right HGV insurance quote can be a difficult task. Insurance brokers have the contact details of a variety of different insurance companies and can be the best advisors for impartial advice regarding cheap HGV insurance. They also select the right choice of HGV insurance quote based on your business needs, your budget and requirements.
Taking precautions for your vehicles is another measure to take when protecting a HGV vehicle. Fitting tracking devices and alarms will enable your vehicle to be recovered in case of theft. A clean driving record is also a bonus, qualifying its holder for a cheaper quote.