If you are buying HGV insurance, there are a few things that are really important to remember. HGV insurance has some similarities to car insurance and some differences too. Let’s take a look.
Let your insurer know if you move to new premises
Like with car insurance, you must let your lorry insurance broker know when you move business address, and when the HGV will be parked in a different place. Sometimes, your premium will go up or down depending on your new area, and any claim on your insurance will be void until your new address is in the system. Make sure that you let your insurance know as soon as you move to avoid any nasty surprises!
You may need natural disaster insurance
Natural disasters are, fortunately, rare in the UK, but it should be known that they are not covered by insurance policies. Therefore, if your HGV is damaged in floods or storms, you may not be able to claim on your insurance. If you are using it to drive to other locations, you may be more likely to encounter damage.
Read your policy carefully
HGV policies do vary greatly from car insurance providers, so it’s important to read your policy in its entirety. If there is anything you aren’t sure about, contact your insurance company.
Make sure that you research thoroughly before purchasing
Truck insurance is more expensive than car insurance, and there are also very specific requirements for different HGVs. Do all the research you can before buying your first HGV insurance policy – and each year, go over your insurance to make sure that you fully understand it. Having an awareness of your insurance cover will help a lot if you do find yourself stuck and needing to claim!
These tips should help you out when shopping for your first HGV insurance policy. It sounds a little intimidating, but as long as you ask your provider any questions you have, and make sure you have thoroughly researched everything, there’s no reason why you won’t be able to get your head around it!