Finding insurance for a lorry/truck can prove difficult as it is not a product that is generally well advertised compare to the likes of car insurance but nevertheless it does exist and this short article will offer a range of tips and advice to help you save a penny or two.
When people think about insurance the main focus is on what a company covers and at what cost however there is a whole range of factors that go towards these costs.
‘It starts at home’
The main points of focus here would be the vehicle, the owner and the drivers.
Vehicle – This should be of a high priority of the owner/company of any vehicle as it is what keeps you on the move as well as aiding your trade/business. We recommend you put in place a system of practises and maintenance checks to keep your vehicle in good condition and also to make sure it complies with current laws. You may also benefit from adding security devices to the vehicles to aid in the event of theft
Owner – The owner will normally insure the vehicle under their name or the company but the onus of responsibility will lay with them. It is best to make sure you not only check but also keep up to date with laws and regulations.
Drivers – Employing drivers is a risk to anyone as they are entrusted to use and assist in maintaining your vehicle/s however it is a risk that you have some control over and could save yourself money in the future. Always make sure your drivers have the relevant licenses and make note that the cleaner the license the better. It is also important to make sure they have training not only at the start of employment but refreshers throughout as this will ensure that they do not forget the training and also gives you an opportunity to remind or implement how you want your business to run.
When you shop around for insurance you may wish to remember the following;
- If you have a number of vehicles you may benefit from having a Fleet policy so that all your vehicles are insured under one policy with one company.
- Consider what level of cover you actually need – If you have much older vehicles with low values you may be able to save more money by putting minimal cover such as Third Party Fire and Theft.
- Take on some of the risk yourself via a voluntary excess – your policy will require for you to pay an excess in the event of you claiming against your insurance policy however by adding an extra voluntary excess your premium will be much lower.
- Named drivers – Insurers are able to assess the risk of having you insured more precisely if they have a list of drivers that will be using the vehicles thus meaning a lower premium.
- Cameras – Source a forward facing camera within the vehicle as this will assist in defending non-fault claims and also in the event of any cash-for-crash/fraudulent claims. (This is not necessarily a requirement however more and more people are seeing the benefit of having such a device in the vehicle)
Want more advice or looking for the best quote?
Why not entrust the assistance of Quotax Insurance.
Quotax specialise in a wide variety of Commercial Vehicle Insurance and have a large panel of insurers that suit most vehicles. They also have a dedicated team of experts that are more than happy to provide you with advice and tailor a policy to suit the needs of yourself and/or your business.
For more information please visit the web page https://www.quotax.net or give the team a call on 0208 469 9679