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A buyer’s guide to HGV insurance

HGV insurance can be considered as one of the biggest costs to the modern business, particularly where the industry in question is the transportation of goods and a company has multiple HGV vehicles to insure. So with this in mind we’ve written this guide so that you can find the best deals on HGV insurance.

Finding the best deal on HGV insurance

Use comparison and data submitting websites

Price comparison websites should be your first tool in your search for a good HGV insurance deal. Additionally however there are also websites where you manually submit your data which is then sent off to various providers so that they compete in offering you the best deal.

HGV insurance - Your options

Most HGV insurance policies cover vehicles up to 44 tonnes, if any of your vehicles are above this weight then it’s likely that you’ll need to call in person to get a bespoke quote. Additionally you need to think about whether you need certain add ons, such as cover for HGVs that drive through other European countries.

As well as this there is also the level of cover to think about. HGV insurance is far more complex than car insurance in that you’ll need to get quotes at varying levels of cover (e.g. third party, third party fire and theft) as the lower the level of cover isn’t always the cheapest.

Do you need additional insurance for your business?

There may be instances where you need additional cover due to the industry that you’re in. If, for example, you transport other people’s goods then you may have to buy a separate insurance policy that covers goods in transportation.

Go to specialist insurance companies

Whilst search engine comparison websites are a great place to start your search you should also be aware that there are plenty of specialist insurance companies out there. Calling such providers directly is the best way to know that the deals you’ve found through a comparison website are the cheapest around.

If you have multiple vehicles to insure try and negotiate

If you’ve got more than one HGV vehicle to insure then call the providers directly to see if they can offer you a discount. Whilst not every provider will do this, there are some that have a little room to maneuver on what are effectively bulk buy deals.

Buying your insurance policy in one payment

Not every business has the option of purchasing their insurance in one payment as opposed to paying monthly installments, however it’s certainly the preferable option for saving a little extra money. The reason behind this is that when you purchase through installments you’re actually paying for finance on the total amount. This can additionally complicate matters should you need to cancel for any reason.

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