The vast majority of truck/HGV owners do put their vehicles to commercial use, and haulage insurance is typically aimed at this group. Categories of business use include carriage of own goods, carriage of goods for hire or reward and haulage.
The differences between haulage and carriage of goods for hire or reward are subtle but we have found, within the insurance industry that the best definition is:
Haulage Insurance is related to cover for the carriage of goods for hire or reward – namely the business of charging to deliver goods owned by someone else;
HGV Insurance, on the other hand, may sometimes be described as carriage of own goods insurance, since it refers to the transport of goods which are owned by the same company;
Provided you keep in mind the importance of informing your insurer of the precise nature of your business, therefore, there is in practice likely to be very little practical difference between lorry haulage insurance and HGV insurance.
If your HGV is used to carry hazardous goods, you need to be aware that this is a typical exclusion on many truck insurance policies. There are firms who will cover the transit of hazardous material, but make sure you know this is included in the terms and conditions of your policy. If in any doubt, speak to the insurance broker before taking out your cover.
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