Why Adding Optional Extras to your HGV Insurance Policy can be Better for your Business

Having an HGV insurance policy that is comprehensive and includes all the optional extras are becoming increasingly popular.  As the haulage industry continues to grow, many haulage businesses are looking for optional extras to add to their HGV insurance policies. An insurance policy that covers many different circumstances your business faces means that you can be reassured that if a claim is brought against you, your insurance policy will cover the costs that arise.

When you look beyond the contractual and legal requirements haulage businesses have in relation to insurance, there are many additional benefits that come from having a policy that covers many different eventualities. 

Whilst cheaper premiums may appear to be attractive, what most companies will find is that the policies that offer the bare minimum truck insurance coverage are often inadequate when it comes to protecting the company.  

Making sure your HGV insurance policy includes all the extra cover it needs not only protects your business, but also your drivers, your staff, and your customers.  Using the services of a specialist HGV insurance broker means you could also get a great deal on your insurance.

Optional Extras

Optional extras are designed to ensure that your business has adequate cover for specific situations.  For example, if your business transports goods then you will want to ensure that you have goods in transit cover. 

Let’s have a look at some of the optional insurance extras that are common in the HGV industry:

Goods In Transit

Goods in transit cover will insure you for any damages that occur to the goods your drivers carry whilst they are in transit. Policies can also cover you for loss, theft, and even delayed delivery in some instances.

Sometimes, all it takes is one emergency stop whilst on the road for the goods in transit to be damaged.  All kinds of goods can be covered by adding goods in transit cover to your policy, including goods, packages, parcels, and letters.

Debris Removal

Debris removal cover is popular within the haulage industry. It includes cover for the clean-up costs that may be required when an HGV or truck loses cargo whilst in transit.  Debris on the roads caused by HGVs can result in huge delays and large clean-up costs, especially on a busy motorway. Without debris removal costs, the company is responsible for funding the clean-up operation.

Cyber Cover

As more and more companies become digitalised, there is an increasing demand for cyber cover. Cyber cover includes businesses for different types of cyber-attacks on their computing systems and technology. Many big businesses have faced serious threats to their business on account of cyber-crime and cyber hackers.

For companies who rely on electronic information and technology, which is common in the haulage industry, there is a real risk of losing significant business and making losses if a cyber attack were to occur. Cyber cover provides with your business with additional protection that can also cover you for breaches of data and sensitive information.

Breakdown Cover

If your HGV breaks down on the road then breakdown cover means you don’t have to worry about the vehicle being recovered and repaired.  The Metropolitan Transport Research Unit has found that HGVs are more likely to be involved in breakdowns and accidents on the road than any other type of vehicle.

Making sure you have adequate breakdown cover included within your HGV insurance policy means that if a vehicle in your fleet breaks down then you can quickly arrange for a roadside repair or opt to have the vehicle towed to a garage if it needs further work.

Misfuelling

It can be very expensive to repair HGVs where the driver has accidentally filled it with the wrong type of fuel. Making sure you have the additional cover added to your policy means that you will be able to claim repair costs via your insurance policy.

Legal Expenses Insurance

We live in an increasingly litigious world.  Making sure you have legal expenses cover means that your business is insured against those instances when you will be likely to incur hefty legal costs and expenses.  

These are just some of the optional extras you can add to your HGV insurance policy.

Always speak to your broker in depth about your business operations and needs so that they can advise you on what optional extras you should add to your policy.

HGV Insurance

Heavy goods vehicles need comprehensive insurance to ensure the vehicle is protected. Depending on the business you work for, you may need a non-standard and more bespoke insurance policy.  ISIS Insurance offers a wide range of optional extras for those situations when you need additional cover.

ISIS Insurance offers a wide variety of insurance options and quotes that cover everything a HGV might need when it comes to insurance, including all large vehicle from skip lorries to refrigerated vehicles and many more.

For the best cover for your business and its operations, please contact ISIS Insurance today and our expert advisers will be on hand to advise you.