As with any kind of transportation, insurance is needed for HGV and in order to insure the freight, you must prove that you have a vested interest in it. This means that you must have official paperwork showing that you have been tasked with transporting the freight. As to who actually insures the freight, the dispatcher or the receiver is a matter for individual contracts but as a hauler, you must at least be insured for any loss, damage or even delay in delivery. Although this is a UK requirement, it is also a requirement in many other countries and if you are transporting the freight across borders, you must ensure that any insurance that you do have, is internationally recognized and accepted.
Often an HGV owner will insure their truck with a policy that also covers any load it may be carrying and as the size of these trucks can vary greatly from perhaps a 7.5 ton to a 44 ton, the cost of insurance also varies greatly. If a hauler specializes in transporting hazardous loads, the insurance could be higher than it would be for a truck that hauls more traditional loads but all trucks must be covered with some type of hgv insurance. As there can be such a variety of sizes of truck and the loads they carry can also vary greatly, finding appropriate insurance can be a minefield and take up a considerable amount of time an so that is why some businesses have started to offer a service that finds the best insurance for a trucker’s individual needs. These businesses know all the relevant insurance companies and are fully aware of the different policies each one offers. Although one insurance company may offer the best terms for one size of truck, it may not offer the best rates for some of the other sizes and the same applies to the types of load each truck carries. If an HGV owner were to view all the different options themselves, from all the different insurance companies, they would probably have little time left for anything else. By using one of the businesses that deal with these types of insurance though, the owner needs spend little of their own time on this matter.
Of course, an HGV owner could opt to just do business with one particular insurance company, relying on them to provide them with the best possible policy. The trouble with this though is, although that insurance company may well provide the owner with their best possible policy, they certainly will not inform the owner that another company offers a better or cheaper option. A business which specializes in finding insurance for you though, has no loyalties to any one insurance company and so will find the best possible policy for you, regardless of which insurance company may offer that particular one. This means that by using one of these specialists, not only can an HGV owner save considerable time, they could also save money.