What is LGV Insurance?
There are literally tens thousands of Large Goods Vehicles (LGV) in use across the country and the work they do is absolutely essential for the economy, making long distance deliveries of virtually everything you can imagine. But what about LGV insurance? Unfortunately many people are unaware of the ins and outs of their insurance policy and it can end up costing them and their business a lot of time and money.
One of the most important differences between LGV insurance and normal car insurance is that you are probably going to need some kind of goods insurance as well as cover for the vehicle itself. What’s more, theft from this type of vehicle is extremely widespread, as thieves know that these vehicles can contain hundreds of thousands of pounds worth of goods. Some policies will insist that you fit additional security if you want to store anything of value in the vehicle overnight.
The basic form of insurance is third-party fire and theft. Just like normal car insurance, his will only cover the cost of damage to the other party in case of an accident. Although this is the cheapest option, it is not often recommended because, as mentioned above, you need some form of goods insurance. Next up the scale of cover is comprehensive insurance. This will cover all the costs (over a pre-defined excess) of an accident. This is normally the basic level of cover for a haulage company. For LGV insurance this will almost always include cover for deliberate damage to the vehicle – you will need to check the small print of each individual policy to ensure that you are actually covered.
With this kind of specialised insurance, it is normally best to go through a broker, as they will know all the details of each company’s policy and also have a good idea of the level of cover each client needs. It can be a really time consuming process and this is another good reason to employ a specialist as you can focus on your day-to-day business rather than pouring through pages of fine print.
LGV Insurance is best purchased from a specialist such as Blueangeltech.com
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