What does lorry insurance cover?

Photography by Nigel Green at www.truckpictures.co.uk
Photography by Nigel Green at www.truckpictures.co.ukWhat does lorry insurance cover?

What does lorry insurance cover?

The answer to the question is surprisingly broad and perhaps confusingly so.

In essence, lorry or HGV insurance may cover whatever aspect of your haulage business you want it to cover. Just as there is a multitude of different haulage operations, so there is a huge range of insurance products available.

It is for just this reason – the potentially daunting task of matching your particular individual needs with a specific insurance product – that you might want to contact us here at Isis Insurance and tap into our experience and expertise in matching customers’ needs with the relevant type and level of cover.

Haulage company’s tend to have very specific needs and requirements, so if you want to discuss your own circumstances directly with us, remember that we do not operate a call centre but rather a dedicated help and advice line, so there is no queueing waiting to get through.

Typical elements of HGV insurance cover

  • at the heart of practically any haulage insurance is likely to be the HGV or HGVs concerned;
  • in the first instance, of course, the law requires that you have a basic minimum level of third party insurance if you are going to be driving on roads or other public spaces;
  • your investment in the vehicles, however, is likely to be sufficiently big, and the vehicles to play such a central role in the operation of your business, that you want something more than the barest minimum level of insurance cover;
  • at the least, therefore, you might be considering third party fire and theft, or more likely perhaps to be thinking of comprehensive insurance;
  • in the case of the latter, this covers not only your third party liabilities but also the risk of accidental loss or damage to your truck or trucks;
  • security measures which you take to help mitigate any risk of loss or damage are likely to be looked upon favourably by an insurer, who may be prepared to discount premiums as a result – the dashboard camera in the cab of a lorry involved in a deliberately staged crash with a car, as described by the Daily Mail in June 2014, for instance, suggests how important such security devices may be to owners and insurers alike;

Breakdown insurance

  • various levels of breakdown cover may be available in addition to your lorry insurance, providing roadside assistance to help your load safely underway once again in the event of emergency or vehicle recovery options that might also cover the driver’s costs for overnight accommodation or onward travel;
  • HGV insurance in other words typically recognises not only the value of your lorry but also the critical role it has to play in quite literally keeping the wheels of your business turning;

Goods in transit insurance

  • commonly associated with heavy goods vehicle insurance and typically offered as an option is goods in transit insurance to safeguard against loss or damage to the goods you are carrying or the risk of their delayed delivery.

It may be seen, therefore, that lorry insurance typically covers a number of areas which may be important to one degree or another to the prudent HGV operator.