Who Needs Low Loader Insurance?
Low loader insurance is most commonly needed by businesses or those operating fleets of HGVs or trucks.
Not only is insurance for a low loader a legal requirement but it also protects a significant asset for a company, one that can be very expensive to replace if not properly covered. When your business or day-to-day operations rely on vehicles it becomes even more important to properly consider insurance, every day that a vehicle is off the road can be a day of lost income.
Operators of goods vehicles like low loaders and flatbeds need an operators licence in the UK.
Types of Low Loader Truck Insurance
As with most motor insurance policies, there are a variety of cover levels to consider and even some specialist policies that may be more suitable.
Basic Low-Loader Insurance
- Third Party: covers third party damage but won’t cover repairs to the insured low loader or the injuries to the driver.
- Third Party, Fire & Theft: covers third party damages plus and vehicle damage directly caused by fire or theft. It will not cover accidental damage to the low loader.
- Fully Comprehensive: covers third-party damage plus any damage to the low loader insured. It will also typically cover injuries to the driver and legal expenses. Many fully comprehensive policies will also have other benefits.
Haulage or HGV Fleet Insurance
Many businesses that have low loaders or tippers insure vehicles through a company fleet policy. These are recommended where there are 2 or more HGVs to be covered. You should be aware that some providers may have a maximum number of HGVs allowed to be covered under a single policy.
A HGV fleet policy is generally more affordable than individual insurance policies and will often be easier to manage.
Telematics For Low Loaders
Many insurers will provide discounted insurance quotes where an owner takes extra precautions to ensure the security of the vehicle.
Telematics insurance policies for HGVs require a black box or an app. They will then use driver data to calculate premiums, with safer drivers being rewarded with reduced rates. Similarly, they can be used to highlight dangerous driving and this can increase insurance costs on a low loader or HGV.
What’s Included In a Low Loader Insurance Policy?
Every policy is slightly different which is where you’ll see benefits in comparing low loader insurance quotes or speaking to a broker.
Common features to look for when you’re comparing policies include:
- Breakdown Cover
- Public Liability Insurance
- Employer Liability Insurance
- Hire and Reward Cover
- Replacement Vehicle Cover
- Windscreen Cover
- Haulage/Goods in Transit Cover
- Flexible Payment Options
- 24hr Assistance For Claims Out Of Traditional Hours
- Protected No Claims