Types of Lorry Fleet Insurance
If you own a fleet of lorries, you probably use them for many tasks. Therefore, it’s important that the cover you take is flexible enough to provide the right amount of cover. Over the last five years, the number of lorries in the UK has tripled. This is concurrent with the increase in the number of small vehicles and as expected, road accidents.
You can never predict when an accident will happen when your driver is on the road. This is why it’s important to purchase lorry cover. If you have a more than one lorry, the best cover will be a multi vehicle policy. This cover is meant for business owners with more than one commercial lgv truck. The vehicles may be used for any purpose for example builders, plumbers, plasterers, electricians, vehicle recovery or even animal livestock transportation.
Top Tip to Reduce Costs
Save 25% on fuel
- Fit an inexpensive limiter and limit to 70 mph for motorway driving resulting in a 25% saving than if driven at 80 mph. Add parking sensors which will make it safe for pedestrians and employees. Both are inexpensive to implement and you will not regret the added safety and potential fuel savings.
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Individual Lorry Insurance
If you own more than one rig, this is the best protection to purchase. However, you do have a choice of cover ranging from fully comprehensive to third party liability insurance.
a) Comprehensive Cover
Comprehensive cover will cover you for all kinds of losses, including those resulting from fires, thefts, accidents, third party liability, cargo damage and sometimes medical expenses. Most truck owners in UK purchase individual comprehensive vehicle protection.
b) Third Party Cover
Like the name suggests, third party cover will only cover you in the event that your vehicle is involved in an accident that led to the injury of another party or damage to their property. This is the minimum insurance cover required for all lorries.
Multiple Vehicle Protection
Lorry fleet protection is meant for business owners who have more than one vehicle. If your company owns more than two lorries, you can get them protected under the one policy. There are various advantages of purchasing fleet protection rather than individual cover for your vehicles. For example, you will have less paperwork when it comes to filing a claim or paying the annual or monthly premiums. Apart from this is the fact that you will invariably be charged a lower premium than had you taken out separate individual policies to cover your lorry fleet
This type of policy covers your entire vehicle fleet. If you had already taken a cover for an individual vehicle in the past, you can add a new vehicle to the previous policy and ask the brokerage company to convert it into fleet insurance.
The best place to buy cover in the UK is on the Internet. You can easily find brokers with good policies by searching and comparing the offers you come across. Find out the extent of the cover provided by reading the policy details . Also, check that the premiums you will pay to ensure they are fair and reasonable and also within your budget.