An Overview of HGV Insurance Cover
Heavy Goods Vehicles insurance, or simply HGV, is a policy cover formulated for Large Goods Vehicles (LGV). Vehicles classified as LGVs weigh more than 4 tonnes and are usually used in transporting large goods, pallets and livestock. It is a legal requirement for all LGVs to be insured. HGV insurance is one of the best available fleet insurance covers for LGVs.
Heavy Goods Vehicle insurance is well known in the European Union countries and more specifically in the United Kingdom. In America, LGVs are defined as trucks, tractor trailers and trailer trucks. Smaller sized vehicles are covered by other types of insurance specifically designed them, for example cheap van insurance.
HGV insurance goes beyond covering the vehicle. It also covers the valuables being transported by the large vehicles. In addition, the cover protects both the driver and the vehicle owner against accidents or damages that occur to them while driving the insured large vehicles. HGV insurance guidelines and regulations are crucial and any person who wishes to purchase the policy must follow the terms and conditions to the latter.
Heavy Goods Vehicles insurance cover can be compared to conventional fleet insurance that covers damages caused to others vehicles as well as those that occur to the insured truck. Apart from these, the policy holder is compensated for goods lost through theft while they are on transit. The policy also protects against goods lost through other unplanned incident. In some cases however, the insurance company may limit its coverage when a truck insured is transporting hazardous materials. In such cases, a transporter will have to seek specialty insurance cover.
Getting a good commercial insurance cover is not easy. To begin, you must attain a specific license that specifically restricts drug driving and provides for heavy penalties for anyone caught breaking the rule. This policy is very important because many risks are associated with drug driving, and more specifically when driving heavy trucks.
Unlike cheap van insurance, Heavy Goods Vehicle insurance cover in the United Kingdom faces high competition from other types of insurance covers, even though it provides a good cover for very expensive vehicles. Thus, you must have special driving skills required for the heavy trucks you will be driving. You must also meet specific driving qualifications as defined in the insurance companys terms and conditions. The common terms and conditions that must be met include having a minimum driving experience and a proven good driving record.
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