Running a haulage business of any size is costly. The rewards are there but keeping your costs down are essential. There are many posts out there on helping reduce the costs of your HGV.
When it comes to you needing to compare cheap hgv insurance, there are few things you can do to help your premium cost.
Shopping around is key, as it goes, we can do this for you. Working with the leading UK HGV Insurance brokers, we have good connections with all the major brokers.
Much like car insurance, lorry cover also comes with Third Party, Third Party Fire & Theft and Comprehensive cover. You need to look at the value of your vehicle. If you vehicle is quite old, you may be better of insuring Third Party Fire & Theft over a Fully Comprehensive policy.
Many policies will have European Cover added on. If you will be working only in the UK, it is worth making sure this is not added.
Increase Your Excess
By increasing your excess, you can help reduce the cost of your premium. Note though that should you need to claim, you must also be able to cover this increased excess level.
The excess is your part of the risk you are prepared to cover. The more you are prepared to cover, the lower your risk profile.
HGV Claim History
Your claims history will be bought into account. If you have no to very few claims, your will appear as a much more attractive risk profile to an insurance broker.
Review Your Drivers
HGV’s insured for a single driver or named drivers are cheaper than those where any driver may drive. This is purely because the insurance company will have a list of all names of drivers allowed to drive that vehicle which also means they have their claims history and individual risk profile.
Manage Your Vehicle
It is wise to look after your vehicle and your claims record. This will enable you to present yourself as a low risk and therefore be able to gain lower premiums.
This is a must, if you wish to operate a vehicle of 7.5 tonne, an operators licence is a must and shows you know how to properly operate the vehicle.