HGV Fleet Insurance
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Why Compare Cheap HGV Fleet Insurance Quotes With SimplyQuote?
We understand driving heavy goods vehicles, trucks and lorries can be stressful – and dangerous.
But finding HGV fleet insurance quotes doesn’t have to be!
SimplyQuote has streamlined the entire comparison process just for you. With the click of a button, you can access multiple truck fleet insurance quotes from top UK insurers in minutes.
Find a cheaper truck insurance policy aligned with your specific needs and budget today. Compare HGV fleet insurance quotes the easy way with SimplyQuote.
What Do You Need To Get A HGV Fleet Quote?
We’ll need a few basic details from you before we can provide you with a HGV fleet insurance quote:
- Personal details
- Business details (as well as the nature of your business)
- Vehicle details
- Driver details – including a valid Driver Certificate of Professional Competence (CPC)
- UK location
- Average mileage
Note: Drivers must be at least 25 years old.
Why Do You Need HGV Fleet Insurance?
You need HGV insurance if your business operates heavy goods vehicles (HGVs) for hire and reward (a.k.a deliveries in exchange for payment).
It’s also a legal requirement to have the right motor vehicle insurance in place – if you want to legally drive on UK roads that is.
You need HGV fleet insurance if you operate a fleet of HGVs (more than two vehicles).
To avoid confusion, HGV fleet insurance is also called:
- Truck fleet insurance
- Heavy goods vehicle fleet insurance
- Hire and reward truck fleet insurance
- Haulage fleet insurance
- Motor fleet insurance
How Does HGV Fleet Insurance Work?
HGV fleet insurance works in the same way as any motor vehicle insurance policy. Just in this case, it’s specifically designed to insure a wide range of heavy-duty commercial vehicles, including trucks and lorries.
One of the biggest benefits of truck fleet insurance is having all your vehicles under one policy with one payment and one renewal date.
Do you need specialised licences to drive HGVs and transport goods?
Yes, you’ll need a specialised driver’s licence if you operate vehicles over 3.5 tonnes.
Depending on the nature of your driving, you’ll need to apply for various goods vehicle licences:
- Restricted operators licence – you can carry your own goods, but not other people’s goods.
- Standard national licence – you can carry your own and other people’s goods; including trailers to and from UK ports as part of an international journey.
- Standard international licence – you can carry your goods and other people’s goods internationally.
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What Does HGV Fleet Insurance Cover?
HGV insurance covers:
- Public liability insurance – protecting you against third-party claims.
- Employer liability insurance – if you employ more than one employee.
Additionally, most HGV fleet policies include trailer cover. You must inform your insurance provider about any commercial trailers you use for your business operations. They will insure these on a specified or unspecified basis.
- Specified – identified by make, model or serial number. This generally applies to trailers you own.
- Unspecified – typically applies when renting a trailer on a part-time or once-off basis.
Note: While public liability insurance isn’t a legal requirement, it is highly recommended.
What’s not covered
- Wear and tear of your heavy-duty vehicles
- Damaged caused by drunk driving or under the influence of drugs
- Not obeying traffic laws and regulations (e.g. speeding, reckless driving)
- Costs incurred due to negligence
- Uninsured goods or personal belongings
- Uninsured drivers
- Electrical and audio equipment (e.g. GPS devices, radio speakers)
What kind of vehicles does HGV fleet insurance cover?
Heavy goods vehicles (HGVs) are usually large lorries over 3.5 tonnes.
What Levels Of HGV Fleet Insurance Can You Get?
HGV fleet operators can choose between three levels of insurance cover. Third-party only (TPO) is the bare minimum you can opt for and ensures you and your business are protected against third-party claims.
Let’s take a closer look:
Third-party only (TPO)
TPO is as mentioned this is the lowest level of cover available and is legally required to drive on UK roads. It covers others (i.e. third-party persons and their property/vehicles) in the event of damage or injury. It won’t cover any costs you or your business incur.
Third-party, fire and theft (TPFT)
Third-party fire and theft includes TPO while promising to pay out if your vehicle is damaged by fire or stolen.
Fully comprehensive
Fully comp is the highest level of cover you can get for HGV vehicles. It boasts everything TPO and TPFT have while also insuring your vehicle in the event of an accident, even if you’re at fault. Some insurers may include windscreen and breakdown cover within these policies.
What Are The Types Of HGV Fleet Insurance?
There are a few types of HGV fleet insurance to choose from:
Carriage of own goods
This type of HGV cover is predominately used for businesses carrying their own goods, hence the name. For instance, a construction company transports their own goods to and from the building site.
This type of insurance won’t insure other people’s belongings (i.e. you’re transporting goods on someone else’s behalf, like a furniture haulage company.)
Haulage fleet insurance
Haulage insurance is a combination of goods in transit and hire-and-reward insurance. This is when you are hauling/transporting other persons’ goods to a single destination in exchange for payment.
For example, a furniture removal company carries goods from A to B. This is not the type of insurance for multiple drop-offs to multiple locations like an Amazon delivery driver.
Hire or reward
Hire and reward insurance applies to delivery drivers delivering to multiple drop-off points.
For instance, you’re an Uber Eats driver delivering food to many addresses daily.
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What Add-Ons Are Available For HGV Fleet Insurance?Â
There are various optional extras you can add to your truck fleet insurance policy:
- Truck breakdown cover – when towing services are required
- Courtesy vehicle – to keep business continuity should your truck(s) be in for repairs
- EU cover – when regularly crossing the UK border for business
- Goods in transit (GIT) – insures the goods you are transporting
- Personal effects – compensates drivers if personal belongings are damaged or stolen
- Any driver policy – allowing any employee (with the necessary licenses) to drive HGVs
- Telematics cover – to allow insurance providers to monitor how your drivers drive
- Windscreen cover – add this to basic TPO and TPFT policies
How Much Does HGV Fleet Insurance Cost?
You can expect to pay anywhere between £1,500 and £3,000 per year per HGV vehicle. However, premiums are cheaper when you bundle your fleet of HGVs under one truck insurance policy.
Pricing also depends on several other factors like the age of your drivers, the type of vehicles you use and which level of cover you opt for.
What impacts truck insurance prices?
- Truck driver age and driving experience
- The number of vehicles you own
- Type of vehicles including size, condition and emission levels
- Level of cover option
- Optional add-ons
- Annual mileage
- Claims history
How To Reduce HGV Fleet Insurance Premiums
There are many ways to get cheaper fleet truck insurance, such as:
Compare quotes
Don’t settle for one HGV fleet insurance quote. Compare numerous quotes from multiple insurance brokers to find the best one suited to you and your business needs.
SimplyQuote’s free online comparison tool finds you the best fleet truck insurance policies in a snap!
Install telematics
Opt for “black box” telematics technology so insurers can monitor and track how your truck drivers drive. The better they drive, the lower your premiums will be!
Opt for annual payments
If possible, paying your insurance premiums upfront for the year eliminates the interest that piles onto monthly instalments.
Build up your no-claims bonus
Drivers with no-claims bonuses are attractive candidates to insurers as they are considered low-risk – and result in lower premiums.
Increase voluntary excess
A higher excess amount suggests you will only make a bigger claim and is therefore more attractive to insurance providers.
Hire an experienced team
Experienced drivers (over 25) are less likely to be in an accident as they have more experience on the road. Insurance providers are reluctant to hire young drivers as they are seen as “higher risk”.
Secure your vehicles
Keep heavy goods vehicles, trucks and lorries in a secure location when not in use. This includes private driveways or locked garages. Alarms, immobilisers and tracking devices are also good to install to reduce the risk of burglary, theft and vandalism.
Keep services up to date
Regularly service fleet vehicles – at least once a year – to minimise general wear and tear and potential breakdowns.
Keep mileage low
Lower mileage means you spend less time on the road and have less chance of being involved in an accident.
Only pay for extras you need
Only pay for add-ons you need. For instance, you won’t need EU cover if you don’t transport goods across the UK border.
How To Compare HGV Fleet Insurance Quotes With SimplyQuote
Finding the best HGV fleet insurance policy is quick and easy with SimplyQuote by your side.
- Fill in the short online form: Tell us about yourself, your HGV vehicles, and your location.
- Choose policy add-ons: Select which optional extras you want to include.
- Compare quotes: Find the best HGV fleet insurance quote suited to your budget and needs.
- Save money: Start saving with the click of a button.
Frequently Asked Questions
HGV fleet insurance (also called fleet truck insurance) is a type of commercial vehicle insurance specifically geared toward heavy-duty vehicles used for hire and reward purposes. These vehicles are large and bulky and weigh over 3.5 tonnes (e.g. lorries, tipper trucks).
Fleet truck insurance bundles all these vehicles under one policy with one renewable date.
This depends on your chosen insurance provider. Some may have a maximum limit of 50, while others may include up to 500 HGVs under one policy.
A fully comprehensive cover is the best level of cover to choose for your HGV fleets.
- Light goods vehicles (LGVs), like vans and pick-up trucks, are smaller vehicles with a maximum weight of 3.5 tonnes.
- Heavy goods vehicles (HGVs) are big, bulky lorries (over 3.5 tonnes) commonly used for commercial purposes.
Occasionally, “LGV” stands for “large goods vehicles” which is the same as a HGV.
If you employ more than one employee, then yes, employer liability insurance is compulsory.