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Example of the type of vehicles that can be insured
Cover is Available for any Commercial vehicle from Van to Truck
How to reduce the cost of truck insurance
Telematics :What is telematics and can it reduce my annual or month;y truck insurance premium? Simply put a device is added to your truck and yes it can reduce your truck insurance premium. The purpose of which is to record data on how the rig is driven and will include the following:
To some this may seem like big brother watching. However, it can lead to reduced insurance claims which can then lead to a lower annual insurance premium for your trucking business. For example the data can be used to find how driving can be improved and providing additional training in these areas. If you do introduce telematics do consider adding a competitive factor for example by rewarding the best drivers or make it a team competition.
If approached correctly adding these data gathering devices can lead to improved driving and thus less accidents. Which will result in less time your trucks are spent off the road being repaired. Other advantages also exist in for example showing routes that are congested or hazardous, enabling you to react and make changes. This will lead to an increase in delivery speed whilst reducing the risk of an accident.
Driver background check: Drivers that have a history of claims will increase your insurance costs as they will obviously be seen as an added risk, also drivers under 25 will incur a higher premium based on age and accident statistics, so whilst the young driver may be one of the better drivers in the eyes of the underwriter he/she are seen as extra risk. Choosing your drivers based on the impact on your insurance costs would be a wise choice.
Tighten up on security: Making your vehicles secure and safe should help to bring down the premium price ever further, safe secure parking with additional safety devices ( insurance industry approved ) such as immobiliser, GPS tracking devices and black boxes will help lower your annual or monthly insurance premiums
Do you need any driver?: If possible limit your policy to named driver or drivers, but if needed any driver insurance is also available at a slightly higher cost.
Reduce admin costs: Simply arranging one annual payment will lead towards less overheads for everyone in the insurance loop, resulting in lower costs which should be passed onto you in terms of a lower premium.Choosing your drivers based on the impact on your
Fleet insurance: Often overlooked, but if you have more than one vehicle it will pay to consider taking out fleet cover instead of taking out individual policies.
Types of truck insurance available
The purchase of third party cover is a legal requirement. Without it you or your business would be open to claims that if excessive could close down your profitable operation. Many types of accident can happen even when being extra careful that is why they are called accidents. The insurance package can also cover goods in transit, personal liability and loss of earnings.Depending on the type of business you may also wish to cover tools, machinery, cargo and goods transported or held in storage. Quotes can easily be tailored to the owner operators individual needs, providing the necessary cover to ensure you are not at financial risk as a result of an operating accident.Having your trucking business covered with adequate protection can let you get on with running your business without concerns for possible future claims against you or one of drivers
What is included and excluded a truck's insurance policy will depend on your actual requirements. Have you one or many vehicles if the latter a fleet policy would most likely work out cheaper than insuring the trucks individually. It is important to get the correct level of cover, but also not to over insurance. Examine all inclusions having any driver when in fact you will be the only driver would be an example of over insurance
Trucking Terms Explained
Trucking Terms Explained
Articulated Lorries (Artics) are the main vehicle category to transport goods by road. This combines a tractor unit with a trailer using a turn-table device. Artics have different types of trailers some of the most common are listed below:
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