Popular perception probably has it that the haulage industry is dominated by just a handful of well-known names.
As the website Work Space points out, however, the industry continues to operate through a network of much smaller enterprises, and 87% of all haulage companies have fewer than five vehicles, and more than a half (57%) of all haulage companies have just one heavy goods vehicle (HGV).
For small businesses, in particular, the cost of haulage insurance is probably a significant element of operating costs and, even where there is only one HGV in operations, the enterprise is likely to run other cars, vans or light trucks.
In short, however many the vehicles in use by a company – large or small – saving money on haulage fleet insurance is almost certainly a concern.
Here are some tips and suggestions for doing just that:
Your haulage fleet
- haulage insurance for a vehicle fleet is likely to earn you discounts on a vehicle by vehicle basis;
- your first step, therefore, is to establish the minimum number of vehicles that qualify as a fleet – this may vary from one insurer to another, with some offering haulage companies discounts on mixed fleets of heavy goods vehicles, trucks, vans and cars;
- while many regular motor insurers may grant discounts on fleet insurance, you are likely to find that specialist haulage insurance providers offer greater flexibility and value for money if you are insuring more than one vehicle under the same policy;
Specialist vehicles
- a specialist provider may prove still more suitable if your fleet includes one or more specialist vehicles;
- you may need car transporter insurance, for instance, or cover for purpose-built refrigerated trucks or those used for the transport of hazardous goods – when a specialist provider is more likely to have the expertise and experience to identify your specific requirements, before quoting a competitive rate;
Named drivers
- some haulage companies employ drivers as and when they are needed on an occasional or seasonal basis;
- if you have a more or less regular team of drivers, though, you might want to consider limiting cover to your named drivers only and, so, save money on haulage fleet insurance;
Breakdown cover
- breakdown cover for your haulage fleet may help to ensure that the wheels of your business are kept turning as soon as possible after a mechanical failure or roadside emergency;
- by ensuring that your haulage insurance incorporates such cover as standard, or offers it as an optional extra, you may save money in the longer term;
European cover
- save money on your fleet haulage insurance by choosing a policy that incorporates European cover as standard, rather than having to pay for it as an optional extra;
- according to Department for Transport statistics published in November 2017, the volume of exports by road freight from Britain to Europe is increasing at the rate of approximately 2% a year;
Excesses
- remember that, in just the same way as insurance for a single vehicle, if you accept a higher rate of excess on your fleet haulage insurance, you may earn significant discounts on premiums.
Whether you main a mixed vehicle fleet, a small fleet of HGVs, or are a major carrier with a large vehicle fleet, there are a number of ways in which you may cut the cost of your haulage insurance.