How to get the most appropriate lorry insurance

When it comes to choosing any kind of insurance one of the key considerations is that what is right for one person may not be so for another. This golden rule applies just as appropriately to insuring your heavy goods vehicle – your choice is likely to be the cover that suits your particular needs and requirements.

To help you in this quest, it may be sensible to consult experts in the field of insurance for commercial vehicles. We have just that kind of expertise here at Isis Insurance Services, so you might want to pick our brains about the type of lorry insurance that might be most appropriate for you.

Your needs and requirements

To make your search easier you might want to ask the simple question: “what do you need from your insurance cover”?

If your truck or lorry is relatively old and its value is low, you might be considering just the most basic level of cover to meet the law – namely, third party insurance only. To this you may want to add protection against the risk of fire or theft by arranging third party, fire and theft insurance.

Given the current cost of heavy goods vehicles and the investment you are likely to have made, such basic levels of insurance are unlikely to suit many operators or drivers. In that case, comprehensive cover is typically the answer.

Whilst you might choose comprehensive cover for the protection it gives you against accidental damage, policies vary quite considerably from one insurer to another. Some might add roadside assistance or recovery in the event of a breakdown. Some might include the provision of a replacement vehicle in such an event. Clearly, such additional elements of protection might prove invaluable when it comes to avoiding the likely financial penalties of failing to meet your delivery deadlines and schedules.

Help yourself

The most appropriate lorry insurance to meet your needs may also be the insurance that you find most affordable. In this regard there are ways in which you may be able to help yourself reduce the cost of the premiums:

  • a healthy driving record with only few previous insurance claims typically leads to significant no claims discounts;
  • clearly, considerations such as this are likely to apply to anyone who is likely to be driving your lorry – if you employ a regular team of drivers, you might also consider limiting the insurance cover to those named drivers only;
  • some insurers also offer incentives – by way of reduced premiums – for any vehicle security systems you may choose to install. These might be wheel locks or other immobilising devices or anti-theft alarms;
  • if you have a number of trucks or lorries, you might also want to consider fleet insurance rather than arranging separate cover for each one – fleet insurance typically works out to be less expensive on a vehicle by vehicle basis.

Getting the most appropriate insurance, therefore, is likely to be driven by a combination of factors, all of which stem from the cover that meets your particular, individual needs and requirements.