Understanding Lorry Insurance Image

What Is Truck Insurance?

Truck insurance is a commercial vehicle insurance that provides cover for heavy goods vehicles (HGVs), including trucks and lorries. It protects you, other drivers, and third parties in the event of accidents, damage, or injury. Whether you’re an owner-operator insuring a single truck insurance quote or a fleet owner covering multiple lorries, HGV insurance is necessary for legal compliance and protection.

Do I Need Truck Insurance Image

Do I Need Truck Insurance?

Yes, it is a legal requirement to have the correct insurance if you take a heavy goods vehicle (HGV) on the road. It protects you and any third parties involved. Your lorry must be insured even if you don’t intend to drive it unless it has been officially registered as off the road with a Statutory Off Road Notice (SORN). If you are insuring multiple HGVs, truck fleet insurance could be a more suitable and cost-effective option for your business.

When insuring a pickup truck, the right pickup truck insurance ensures you have the right cover for all potential risks. If you’re using pick ups for courier work, you’ll want a policy that includes specific protection for delivery-related incidents. If you have a fleet of trucks, you might also want to compare van insurance options for any lighter vehicles in your operation.

What does truck insurance cover?

The type of cover you need will depend on a few different factors. First is the type of truck, or trucks that you want to insure. Secondly is whether you’re an owner driver who only needs to insure one truck or you operate a business with multiple trucks that need insuring. Lastly is the budget you have for your insurance.

Third-Party Only (TPO)

Covers liability for injury to others, damage to third-party property, and liability while towing a caravan or trailer.

Third-Party, Fire, and Theft (TPFT)

Provides TPO cover plus protection against fire damage, cover for theft of the truck, and any damage caused during the theft.

Comprehensive Cover

Includes TPFT cover plus protection for your own vehicle, windscreen cover, personal effects, accidental damage, and potentially medical expenses.

What else can truck insurance cover?

Insurance policies can differ, but they may offer additional features as standard or for an extra premium.

Hazardous Goods

Cover available for the carriage of hazardous goods

Fleet Insurance

: Managing a fleet of trucks? Fleet insurance allows you to cover all your vehicles under one policy. This simplifies administration and often proves more cost-effective compared to individual policies for each vehicle.

Breakdown Recovery

: A breakdown can happen at any time, so having breakdown cover is essential for keeping your business moving. Many insurers offer their own breakdown roadside assistance services, which can be more convenient than relying on third-party providers.

Commercial Property Cover

: Protects your premises, including offices and storage facilities, from damage or theft.

Goods in Transit Insurance

 If your trucks carry goods, having goods in transit cover is a must – especially for high-value or sensitive items. This cover ensures your cargo is protected from loss, theft, or damage. Make sure to clarify with your insurer which scenarios are covered, as some policies may only provide protection during transit.

Public Liability Insurance

: Having public liability cover is extremely important. If a member of the public is injured because of your operations, this insurance will cover compensation claims. It’s particularly useful for delivery drivers or businesses with multiple vehicles on the road.

Uninsured Loss Recovery

: Assists in recovering losses if an incident is caused by an uninsured third party.

Employers’ Liability Insurance

: If you employ drivers, this employers liability insurance cover is legally required. It protects your business in the event that an employee gets injured or becomes ill due to their work. This is an essential safeguard for both your team and your company.

Changing or Replacing Locks and Keys

: Covers replacement costs if keys are lost or stolen.

European Cover

: If your trucks travel throughout Europe, this cover is essential. It protects your vehicles whether they are at home or abroad, ensuring peace of mind when your vehicle crosses borders.

Loss of Licence Cover

: Losing your licence can be financially devastating. Loss of licence cover offers compensation for a set period, helping you manage while you work on getting back on your feet. It’s not a standard cover, but it’s highly recommended for added security.

Towing Costs

: Helps cover the cost of towing your truck after an accident

Personal Accident and Sickness Insurance

: This cover provides financial support if a driver is injured or falls ill. It’s a crucial safeguard for your drivers, ensuring they are supported during recovery and providing peace of mind for everyone involved.

How to Save Money on Your Truck Insurance

Saving money on insurance should always be a top priority. Luckily there are some surefire ways to save a good deal of money and get the best value on your truck insurance. Below are some great money saving tips

1

Pay Annually – 

Insurance providers will always prefer if you pay for your policy annually rather than monthly instalments. In many cases, they will offer you a significant discount when you choose to do this. Depending on how many trucks you’re insuring, this one method alone can save you a lot of money.
2

Use Fleet Insurance – 

If you have multiple trucks to insure then it’s highly recommended that you get truck fleet insurance. In nearly every case it works out a lot cheaper to insure multiple vehicles under one policy rather than getting separate policies.
3

Secure Your Vehicle(s) – 

Making your truck as secure as possible is essential. Insurance providers will certainly want to know how secure your truck is before they give you a price so you should take every measure you can to cut down on the risk of theft or your truck or its contents.
4

Be Picky with Your Drivers – 

If you run a truck company and insure your vehicles yourself, one of the ways to save on your insurance is to be very selective with the drivers you employ. When insurance providers are calculating the cost a policy the driving history and experience of the driver is one of the main factors taken into account so by only employing experienced drivers with a clean licence you can go a long way to saving on your policy.
5

Get Multiple Quotes – 

This is one of the best and most reliable ways to save on your truck insurance. The prices you’re quoted can vary a lot so the only way of knowing if you’re getting a good deal is by getting quotes from many different insurance providers. Comparing motor insurance quotes for trucks, as well as for van insurance or car insurance, can help you find the best coverage for your needs.
Ian Beevis Insurance Expert

What the writer says…

"If you have multiple HGVs, insuring them all as part of a truck fleet may be more convenient and cost-effective than covering them individually."

– Ian Beevis, Insurance Expert & Co-founder of Clean Green Cars

Frequently Asked Questions

Do I need an operator's licence to drive a truck?

If you drive a vehicle over 3.5 tonne an operator’s licence is required whether you are carrying own goods or transporting goods for hire and reward.

What types of vehicles can you get cover for?

  • Recovery/Breakdown Trucks
  • Crane
  • Skeletal
  • Articulated lorry
  • Curtain Side
  • Skip carrier
  • Refrigerated truck
  • Flatbed truck
  • Dropside
  • Ripper Waste disposal truck
  • Concrete mixer
  • Recycling truck

Does my type of business affect my truck insurance?

Insurers will take your business type into consideration when calculating the policy premium. For instance, if you are carrying hazardous goods insurers could increase the premium, due to the higher risk involved. Make sure to check all policy wording.

What are the age restrictions on truck insurance?

Most insurers wont cover drivers under the age of 21, and a number under the age of 25. Cover is available for younger drivers but expect to pay a considerably higher premium with a limited number of insurers.

What factors affect the cost of a truck policy?

Where can I get truck insurance quotes?

There are many ways to get quotes. You can of course contact insurance providers directly. However if you want to get quotes from multiple providers then there is a better way of doing things. You can get quotes from a panel of truck insurance specialists within a matter of minutes by clicking the green quote button below. All you have to do to get your quotes is provide a bit of information about yourself, your business and the type of policy you need.

Can I use my no claims bonus on my truck insurance policy?

Yes. Providing that the no claims bonus was earned in the UK there should be no issue with transferring it over from one insurance provider to the next. Usually the no claims bonus will also need to be on the same type of vehicle too, although there are exceptions to this.

What level of HGV cover am I required to have legally?

In order to comply with the law, all vehicles must have at least third party insurance. In addition to this, if you employ drivers then you must also have employer’s liability. When transporting goods it’s also a very good idea to have goods in transit cover.

The main factors that affect the cost a truck insurance policy are –

  • The size of the truck(s) being insured
  • The number of trucks being insured
  • The mileage of the trucks
  • How secure the trucks are
  • The named drivers on the policy
  • The level of cover

Is it possible to insure multiple trucks together?

Yes. In fact this is very common with truck insurance. With a fleet truck insurance policy you’re able to insure multiple trucks, including multiple truck types, under one easy-to-manage policy.

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