Semi Truck Insurance for both Private Owner Operator and Business Use
Semi truck insurance is necessary for any haulage business or owner driver. Semi trucks come in a multitude of forms some that we have listed below, whichever type of trailer or tractor unit we can provide quotes from multiple UK brokers that specialises in trailer truck haulage insurance
What is a semi Truck?
Semi trailer truck or the abbreviation semi truck consists of a tractor and trailer, the trailer has wheels at the back only and no front wheels. The tractor or prime mover supports the front of the trailer and this part is often referred to as the hauler bed. The hauler bed can be designed to be multi functional and can be as functional as a 1 tone truck bed. This one has a built in tool section built into the side skirt and with a big flat bed that makes it very versatile when it comes to what it can haul.
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Selecting the Right Semi-Truck Insurance Company
There is no doubt that in this industry, one of the biggest expenses a driver will come across is the cost of commercial insurance. The temptation for many is to go right to the cheapest Semi-Truck Insurance plan that is available. This may seem great until you have an accident and find out that your policy does not provide the right cover. The legal complications as well as the financial ones can be, in a word, devastating, should you be involved in an accident.
Before you begin shopping and comparing quotes for Semi-Truck Insurance, it is imperative that you understand and know exactly what you need out of your policy. Sure, this will take a little time, but in the long run, it’s definitely worth it. If you don’t take the time needed to do this, there’s a better than average chance that you will end up paying too much.
Consider if workers compensation is right for you. Whether or not you wish to be covered for fire and theft is another decision. Then there is Liability and full comprehensive or whether or not to have insurance that covers the goods you will be transporting.
After you have done due diligence and you feel you have settled on which company you will use for your Semi-Truck Insurance, curb your enthusiasm just a tad, and take a little more time to do some research on the company. Check with the various industry regulators and rating services as far as the company’s reputation goes. Understand how their claims policy functions, and how long they take to pay claims, along with if they actually have the funds to pay a claim should something go wrong.
Ways to reduce your Semi-Truck Insurance costs
Compare Between Several Companies Sometimes, insurers that provide cover for commercial trucks can be a little difficult to find. As is often the case with other types of insurance, taking the time needed to compare rates is one of the best and easiest ways to save money on Semi-Truck Insurance.
Consider Excess This is money that you pay out of pocket voluntarily in the event of an accident. This excess is tied directly to premium cost. In short, the more responsibility on your part means lower premiums. Give this one careful thought, as it can save you money now, but it may cost you more down the road.
Pay Upfront When paying for your Semi-Truck Insurance an easy way to save money is to skip the monthly payments which have interest attached to them, and pay your premium in one lump sum. At times, this can realize substantial savings.
Request Discounts It’s a known fact that insurance companies like working with drivers who will likely not cost them money. Routinely, providers will offer discounts to drivers who have a clean driving record and regularly maintain vehicles. Check to see which deals you qualify for.
Underwriters take many factors into consideration when arriving at an insurance premium for your 7.5 tonne lorry. One of these is the security of your lorry and trucks, as such adding insurance approved gadgets like immobiliser, a telemetric and provide secure overnight parking will reduce your annual premium. Also don't forget other things for example reversing alarm to warn nearby pedestrians or other workmates.
What types of semi truck trailers do you compare cover for?
The tractor unit can attach to a wide variety of trailer types making for adaptability, a few of the most common are as follows:
- Step deck
- Single drop
- Extended flat bed
- Lowboy Trailer
- Dry Van
- Enclosed Trailer
- refrigeratted trailer
- Flatbed stretch
What types of Cover do you offer?
- Roadside assistance – Most things break down now and again , keeping your haulage unit maintained on a regular basis will reduce the likelihood, but road side assistance or breakdown cover should be a consideration in any haulage business insurance package.
- Legal expenses –
- Fully comprehensive cover – Fully comprehensive provides the highest level of protection
- Third party – Third party whilst affordable does not protect you semi truck trailer should you be in an accident with you or your driver at fault.
- Third party, fire & theft – This covers only third parties plus damage by fire and theft.
- Public liability –
- Loss of licence –If you are an owner driver being sick or unable to driver for an extended period of time can be catastrophic as such consider taking out cover for such an event of ten referred to as loss of licence protection.