If you want to compare HGV insurance, one way of doing so might simply be to choose the cheapest HGV cover. In any question involving insurance, however, the cheapest is rarely the cover most likely to suit you and your particular set of needs and circumstances. And what you consider to be the cheapest lorry cover may not be the same for someone else.
The fact is that every operator’s needs are likely to vary in one way or another. The key to comparing HGV insurance, becomes a question of arranging the cover you need at a price you may afford – quite simply, a question of finding the best value for money.
It might be a simple quest for good value for money, but how might you conduct such a search?
In order to make a meaningful comparison, you need to know exactly what your particular requirements might be – and it is possible for even the most seasoned and experienced of operators to overlook or fail to spot some element of their insurance needs.
Having determined what your needs might be, you then need to scour the whole of the insurance market, and the niche market in HGV insurance in particular, to match your needs to whatever products might be available – and still to come up with premiums that are competitively priced.
It is the kind of job which you might want to entrust to a specialist in the provision of HGV insurance – specialists such as ourselves here at Isis Insurance.
A specialist broker might be best placed to secure suitable quotes, but there are still considerations you need to take into account and decisions only you may make:
- on the level of insurance, for instance, is the rig you want to insure a very significant investment on the part of your business, or is it an elderly workhorse which might not cost so very much to replace;
- if it is the former, of course, you are likely to be satisfied by nothing less than fully comprehensive cover – if it is the latter, then third party, fire and theft or even the most basic third party cover may suffice;
- whilst making that decision, however, bear in mind that – counter-intuitively – policies offering more comprehensive cover may often attract lower rather than higher premiums, according to some of the general advice on motor insurance suggested by the government’s own Money Advice Service;
- when making your comparisons, you might also want to make sure that any insurer is extending to you the full no claims discount to which you are entitled – the discounts may be substantial;
- compare, too, the discount you may earned by naming all drivers on your HGV insurance – something that it might be possible to do if you employ a regular team, but more difficult of course if you hire drivers on a seasonal or occasional basis;
- many forms of motor insurance – including that for lorries – carry a whole range of standard and optional extras;
- finally, therefore, you might want to make sure that you are paying only for those elements of cover that you might actually need.
Comparing HGV insurance is likely to be about much more than a simple question of price. The match between what you need and the products available is likely to provide the best route to good value for money – especially if you engage a specialist insurance provider in your search.