Over a million truck drivers are employed by various transportation companies in the United Kingdom. It’s no surprise that finding the best commercial truck insurance is a top priority with so many trucks on our roads.
Commercial truck insurance, like personal auto insurance, may include a combination of liability, collision, and comprehensive coverage.
Unlike personal auto insurance, commercial truck insurance requires higher coverage limits to account for heavier and more valuable vehicles, as well as the cargo they transport.
What is commercial truck insurance?
Commercial truck insurance, which is a collection of auto insurance plans, is required by trucking companies, companies that use trucks, and individual truck drivers.
This insurance covers you financially and legally for bodily injury and property damage, as well as specific cargo and trucking equipment.
Unlike commercial auto insurance, commercial trucking insurance covers large vehicles (such as semi-trucks) that are commonly used for construction, commodity transportation, or agriculture.
Commercial truck insurance takes into account the cargo or commodities being transported, as well as the size and type of vehicle. They provide policies for commercial trucks such as tow trucks, cement mixers, pickup trucks, and tractors.
Why you need Commercial Automobile Insurance
If you own, lease, hire or use a vehicle for business purposes, you should have at least liability coverage. Most states require it for privately owned vehicles. Furthermore, federal law requires it for businesses that transport goods or people across state lines. A commercial truck insurance policy may be required for larger commercial vehicles.
You need commercial lorry Insurance for vehicles that:
- Are used for business.
- Carry a commercial license plate or tag.
- Are registered commercial.
You should also carry commercial auto coverage if you or your employees use vehicles for work-related tasks, such as:
- Driving clients to the airport;
- Going on sales calls;
- Taking packages to a shipper;
- Shopping for office supplies.
Also, you may be required to get additional coverage if you use vehicles for certain functions, including:
- Delivering food, products or publications;
- Acting as a chauffeur, taxi or limo service;
- Transporting flammable or hazardous materials;
- Carrying equipment;
- Towing vehicles;
- Trucking and moving freight.
Types of Truck Insurance
While each truck insurance policy will differ depending on the needs of the individual, there are certain types of coverage that are very common and should be understood. Some of the most common types of coverage found in truck insurance policies are listed below. –
- Fleet Insurance
- Public Liability
- Contents Cover
- European Cover
- Comprehensive Insurance
Fleet Insurance
If you own a fleet of trucks for your business, fleet insurance is an excellent way to protect them. The benefit of fleet insurance is that it allows you to ensure as many vehicles as you want under a single policy. This not only makes dealing with the administrative side of things much easier, but it also saves you a lot of money when compared to insuring the vehicles individually.
Public Liability
Public liability insurance can be a very useful addition to a policy. If a member of the public is injured as a result of your negligence, you will be covered if they file a compensation claim. This is especially useful for trucking company owners who have a large number of vehicles on the road at any given time.
Contents Cover
Any truck used to transport goods should always have contents insurance. This is especially important when the contents are sensitive or valuable. Contents insurance provides you with the assurance that if your belongings are damaged or stolen, you will be adequately compensated.
You should check with your insurance provider to see if the type of contents you’re transporting is covered and under what conditions. Some policies, for example, may only cover damage to goods while they are in transit. These minor details can be critical, so confirm with your insurance provider exactly what you’re covered for.
European Cover
Many trucking companies operated vehicles in various countries, and it was frequently necessary for those trucks to cover large areas in multiple countries. In this case, European cover will cover your trucks whether they are in the country or abroad.
Comprehensive Insurance
This one is pretty self-explanatory. Collisions are covered by comprehensive insurance whether you are at fault or not. In most cases, you will also be protected against fire, theft, and vandalism.
How does commercial vehicle insurance work?
Commercial trucking insurance is used by truck drivers and trucking companies.
They obtain truck insurance to protect individual vehicles, and the owner of such trucks is usually the one who buys it.
The insurance also only applies when the vehicle is used for business purposes by the people named in the policy.
The individuals named on the policy also influence the cost of the policy, as their driving record is a major factor in determining monthly rates.
What does commercial auto insurance cover?
Commercial auto insurance typically covers the following: liability damages; collision or comprehensive physical damage loss to your business vehicles; medical expenses for injury to occupants of your business vehicles; and damages sustained by occupants of your business vehicles as a result of the negligence of an uninsured or underinsured motorist.
Physical damage coverage is provided for vehicles you own, lease, hire, or use in your business, as well as liability coverage for bodily injury and property damage caused to others by your use of the insured business vehicles.
It can include two types of physical damage coverage for your insured vehicles:
- Collision loss: damage from auto accidents.
- Comprehensive loss: damage from weather, theft and other non-collision causes.
It also includes two types of liability coverage:
- Bodily injury coverage: for accident-related injuries to others when you’re at fault.
- Property damage coverage: from accident-related damage to someone else’s property, such as a car or house, when you’re at fault).
How to buy commercial lorry Insurance?
Commercial Truck Insurance can be obtained from an independent insurance agent. They’ll take the time to learn about your company’s operations and vehicle usage so they can find the best coverage at the best price. When an incident occurs, your agent will also walk you through the claims process.
Using a single agent for all of your business insurance needs may help ensure that your company is adequately protected and that you are not paying for unnecessary duplicate coverage.
How much does commercial lorry insurance cost
It all depends. The price is determined by several factors, including:
- Business size;
- Number and types of vehicles insured;
- Number of employees driving vehicles insured;
- Costs of vehicles hired;
- Business and driving risks;
- Amount of coverage.
An agent can help you find affordable coverage.
How to choose the right truck insurance for your business
If you drive a large truck for a living, you’re probably doing so for a living. This could be as a one-man-band or as part of a larger fleet. Commercial truck driving is divided into two categories: haulage and goods carriage.
- Haulage means there is just a single pick-up and drop-off point.
- Carriage of goods entails a number of drop-off points.
Check that your truck insurance policy is appropriate for the way your truck will be used.
If you’re an employer with a large fleet of trucks, HGV fleet insurance may be worth considering as a way to save money and time.
Even if you only have two or three trucks on your books, you may be eligible for fleet insurance.
Telematics truck insurance Uk
Commercial Truck Insurance policies with telematics Use the vehicle’s black-box technology to calculate the size of your annual premium.
This is accomplished by monitoring your driving, such as braking, acceleration, cornering, and speed. It also takes into account the times of day when you are most likely to be on the road.
Drivers who are more cautious and sensible are rewarded with lower annual policy costs.
So, if you or your company’s drivers are cautious behind the wheel, this type of coverage could save you a lot of money in the long run.
Unsurprisingly, these black box van insurance policies are becoming more popular among businesses that own truck fleets.
Businesses also understand that by incentivizing safe driving, their trucks are less likely to be involved in accidents.
Truck insurance policies with telematics Use the vehicle’s black-box technology to calculate the size of your annual premium. As a result, there may be fewer damaged goods or missed delivery deadlines.
Best Commercial Truck Insurance companies in the UK
Avis Insurance
Avis Insurance provides commercial truck insurance to businesses and owner drivers who operate HGVs for Haulage or Own Goods. They can insure almost any type of HGV, from a skip lorry to a 60-tonne artic, and if you have two or more vehicles (including vans and cars), a fleet insurance policy may be more cost-effective option. Avis Insurance, as one of the UK’s leading truck insurance brokers, can provide the best lorry insurance at the most competitive prices.
Aviva truck insurance
Just like other motor insurance, Aviva van insurance can cover you and your vehicle against the cost of accidents and damage. From carrying your kit when you hit the road for an adventure to loading it with tools to go to work every day. It doesn’t matter if you use your van for business or pleasure.
Gladiator truck insurance
This company help you get great value van insurance for your business and personal use and, with our optional extras such as Goods & Tools, Vehicle Hire and Personal Injury cover, Gladiator truck insurance can give you all the cover you need.
FAQs about Commercial Truck Insurance
What is the best commercial truck insurance?
The best commercial truck insurance in the UK is Avis Insurance.
What does commercial truck insurance cover?
It protects against risks such as the cost of injuries and medical expenses for the injured party in the event that a truck driver employed by the company is involved in an accident. It will also include legal defence coverage to protect against third-party claims, whether or not the insured’s company is at fault in an accident.
How Does Commercial Truck Insurance Work?
A commercial auto insurance policy, like a personal auto policy, provides liability protection, vehicle protection, and driver protection; however, the difference between a personal policy and a commercial policy is that commercial insurance provides more coverage to protect the larger risks associated with a business.
