It is a known fact that younger drivers are more apt to be involved in any road accidents and so for this reason, many insurance companies will charge higher fees if an HGV driver is under the age of 21. HGV stands for heavy goods vehicle and covers a wide range of the heavier vehicles and so no one HGV insurance policy is suitable for all HGVs. Although when insuring a family car, a car owner may opt to make the decision as to which policy to buy themselves, as there are more options with HGV insurance, often HGV owners opt to hire an insurance broker to find them the most suitable coverage at the most reasonable price. With a car the choices are relatively simple, comprehensive, third party fire and theft or just third party.
The comprehensive insurance is of course the most expensive because on top of paying for any property damage, injuries or even deaths of third parties, it also pays for the insured’s car to be repaired after an accident. Third party fire and theft pays for any third party expenses and pays the car owner in cases of fire or theft but a third party policy only pays third party expenses. Once a car owner knows which of these policies they want, it is just a matter of shopping around the different insurance companies to find the best deal. The options for HGV insurance are far more complicated though as they have to take into consideration the size of the truck, the age of the drivers, the type of freight carried, to where and also if coverage is needed for theft of the truck or even just theft of the freight. More lately the latter two of these concerns has played a larger role in the choices made as, a recent study showed that on average, 10 to 15 HGV trucks are stolen on a daily basis in the UK and theft of their freight is just as prolific. For this reason, in order to get top hgv driver insurance at the best possible price, many HGV owners are hiring insurance brokers.
Insurance brokers are not the same as insurance agents as agent s work for one particular company and so therefore can only offer you insurance provided by that one company. A broker, although often trained as an agent, no longer works for just one company and so is able to shop around all the different insurance companies to find the policy that best suits your needs at a cost that is the most reasonable. Insurance companies often like to use a lot of small print and use words which although are English, can be very confusing for regular people to fully understand. Of course though, these companies explain the different terminologies to their agents and as many of the brokers are ex-agents, they also fully understand all the terminologies used and are able to better explain them to you before you sign any policy.