If you are in the breakdown and recovery profession, your business would literally grind to a halt if your truck is out of action. So recovery truck insurance addresses this problem, and provides a solution to keep your business going if your own vehicle is stolen or damaged.

As long as your claim is higher than the “excess” on your policy, the insurer will pay out for the value of the damage caused to your vehicle, or pay for a replacement.

Tips on saving

To save money on your recovery truck insurance, there are a number of things that you can do.

• No claims bonus – a no claims bonus is the insurer’s recognition that you are a safe driver and have not needed to make a claim for some years. Accordingly, if you have a few claim free years under your belt, bring this to your insurer’s attention and demand a discount for your safe driving.

• Limit your mileage – if you mostly operate over a small but densely populated area, consider limiting your mileage so that your insurer perceives you as a lower risk operation. However, making this decision is something that needs to be thought through carefully, as you do not want to prevent yourself from working further afield if that is where the more lucrative work is. Whichever option you choose, ensure that the insurer is correctly informed about how many miles that you do. If you have grossly underestimated your mileage and this is discovered when you make a claim, your insurer might declare the policy void on the basis of this inaccuracy.

• Raise your excess – at first glance it can seem like madness to voluntarily lift the minimum threshold for which you can make a claim. But by doing this your insurer will see you as someone who is less likely to claim, and therefore may be prepared to drop the cost of the policy.
Most recovery trucks are pretty specialised. However, if you do use the vehicle for any other businesses activity (for example the motor trade), make sure that you inform your insurer so that they can add that to the permitted uses under the policy. As with mileage, you do not want to find yourself in a situation of not being able to claim on your recovery truck insurance due to misinformation on the application form.