is also known as Heavy Goods Vehicle (HGV) or Large Goods Vehicle (LGV) insurance. This type of insurance covers vehicles that carry weights above four tons. If the company has a large number of trucks, then it is prudent for it to take a fleet . This type of policy is cheaper than taking an insurance policy for each vehicle. It is worth noting that a premium is dependent on the weight of the truck; heavier trucks have higher premiums than lighter ones.
In addition to that, this insurance policy is dependent on the coverage of the insurance policy, goods protection, and public liability among others. A comprehensive insuarance policy covers a lot of aspects of goods protection. However, it is prudent to choose an insurance policy that addresses individual business needs. Many insurance providers offer insurance policies with many additional features which are optional. Some of the three main additional features offered by insurance companies in the UK include legal expenses, glass and breakdown cover.
The legal expense cover meets legal costs while the glass cover provides coverage for windscreen damages. Thirdly, the breakdown cover meets expenses for breakdown services such as towing. The type of additional features in an insurance policy is dependent on the insurance provider, however, many insurance buyers seek ways through which they can reduce the amount of premium paid. It is worth noting that you can reduce the amounts of premiums paid for a fleet insurance policy in a number of ways:
For starters, you should ensure that your vehicles are driven safely. If you drive safely for one year, you will start begin to earn claim free bonuses which are reflected as no claim discounts in future years.
Secondly, conducting extensive searches on various insurance providers and their rates is very important. Through this, one is bound to get insurance providers with attractive rates.
Lastly, focus not only on the cost of the insurance policy but also on the terms and conditions. For example, if you have a reliable fleet with good drivers, you can increase the excess with a resulting offset of a reduction in premium paid.
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