Haulage Fleet Insurance

The number of vehicles that are counted as a fleet will depend on each specific policy and insurance provider. Generally, most insurers define a fleet as two or more vehicles.

When it comes to the size of vehicles covered, this also varies by insurer. Some will cover vehicles that weigh 3.5 tones up to 200 ton GVWs.

Another fact to be aware of is that some insurers will cover a mix of vehicles (vans, cars, trucks, etc.) under the same policy.

For one thing, you’re legally required to have fleet insurance if you run a business that includes vehicles and drivers who work for you.

There are some benefits to this type of insurance coverage, including:

• All commercial vehicles in the fleet may be covered with one policy and one premium
• Save on admin fees
• Have only one premium and one policy to renew, rather than multiple individual policies/premiums
• The larger your fleet, the more money and time that can be saved
• Fleet truck policies generally provide more flexibility and convenience than other policies

There are several types of haulage fleet insurance to protect your fleet, including:

Third-Party Only: this is the lowest amount of insurance that you can legally have in the UK. It covers third-party injuries, damage to third part property, as well as passengers. Keep in mind that this type of policy does not cover your truck or driver. If there’s an accident, you will be responsible for paying for all damage & repairs to the truck, as well as medical bills for the driver. This type of policy is the cheapest you can find.

Third-party fire & theft: this type of haulage fleet policy covers all of the above and damage caused by fire and damage or loss as a result of theft or attempted theft.

Comprehensive: this is the most expensive policy, and it provides the most protection. It covers everything above and includes damage to vehicles and driver injuries.

Road risk

Breakdown

Contents insurance (insures the contents of your trucks)

Foreign use & EU cover

Warehousing cover

Cover for deterioration of stock

Trailer cover

Goods in transit: this protects the goods your vehicles are transporting against theft and damage caused by accident. Keep in mind that carrying perishable or frozen goods may have different risk levels. Read each haulage fleet policy carefully in detail.

Haulage insurance only covers HGVs travelling to one fixed destination. Courier insurance, on the other hand, covers a range of vehicles travelling to and from various locations and/or drop-off points for deliveries.

If you’re not sure which policy is right for you, then it’s best to contact an insurance broker who specializes in haulage fleet insurance. They’ll be able to tell you if this type of policy is best for you and your business or whether courier fleet insurance would be a better option.

There can be exclusions on haulage fleet insurance policies; however, it depends on the individual policy, as well as the insurance provider. Some common exclusions include:

• • Loss of use costs not covered by a courtesy car arrangement
  • Mechanical breakdown repair costs
  • Loss of vehicle through deception
  • Tyre damage through normal use
  • Keys left in the vehicle
  • Sonic booms
  • Pollution

There are some ways you may be able to lower the cost of your haulage fleet insurance premium:

• Employ experienced drivers who have clean driving records
• Hire drivers who are 25 and older
• Make drivers responsible for their own excess
• Make sure all vehicles are secure and safe (especially in overnight parking)
• Consider the installation of dashboard cameras (some insurers offer a discount for this)
• Use a telematics insurance policy
• Pay annually rather than monthly (monthly premiums are always more expensive)
• Increase your voluntary excess
• Pay for only the coverage you need, rather than add-ons you don’t need
• Try to build up a no-claims bonus

Most haulage fleet insurance policies are based on an any driver basis. This means that anyone who has permission from your company may drive the vehicles. However, the driver must have the correct driver’s license and credentials to drive the vehicles in the fleet.

What’s more, some policies may have age restrictions that don’t allow anyone under 25 years of age to be included in the policy.

 If you have a driver who has serious convictions on their driver’s license, then you must have these referred to the insurance providers before allowing them to drive.

Watch for these conviction codes with the following letters: AC, BA, DD, DR, IN, MS, NE, TT, UT & XX.

 That’s a great question! The answer is no. Each insurance provider will have its own policies and regulations. What’s more, the price of each policy will vary by provider, too.

This is why it’s imperative to read through each policy in detail. You’ll learn what’s covered (or not) and how much the premium costs. With this information, you’ll be able to make an informed decision on which policy is best for your circumstances.

However, because haulage fleet insurance can be somewhat complicated, it’s maybe a good idea to consider using an insurance broker to help find the right policy. They have the expertise and knowledge about this type of insurance, as well as the insurers. With their help, you may also be able to find a better premium.

RHA – Road haulage Association – The only UK Trade Association Dedicated Solely to the Needs of UK Road Transport Operators.

FORS – The Fleet Operator Recognition Scheme (FORS) is a voluntary accreditation scheme for fleet operators which aims to raise the level of quality within fleet operations, and to demonstrate which operators are achieving exemplary levels of best practice in safety, efficiency, and environmental protection.