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If the only things certain in life are death and taxes, just be glad it’s time to pay taxes and not time to clock out. If you’re a truck driver or if you operate a trucking company, you might be trying to wrap your head around the HVUT, otherwise known as the Heavy Vehicle Tax.

An annual tax that is levied on larger automobiles that conduct commercial operations on America’s highways, this tax does a lot to keep our roads functioning properly, uncongested, and reasonably safe.

How is it Calculated?

The HVUT is calculated by figuring out the gross taxable weight of a heavy vehicle. This number is arrived at by look at three figures.

One is the weight of the vehicle when it is ready to hit the road but is not yet loaded up. Then they look at the weight of trailers and semitrailers that are going to be used with the truck—also ready to roll but not yet loaded. And third, they figure in the highest load that will typically be carried on the vehicle and its trailers.

If the combination of these three figures comes to below 55,000 pounds, the operator is not responsible for paying the HVUT.

If the figures add up to somewhere between 55,000 and 75,000 pounds, the operator must pay $100 + and additional $22 for every 1000 pounds over the initial 55,000.

If the combined weight adds up to over 75,000 pounds, the operator must pay $550—this is the maximum amount that can be levied for this tax.

The Benefits of the Heavy Vehicle Tax

And when you consider what the Heavy Vehicle Use Tax does for society as a whole, less than $550 is a small price to pay. This tax helps fund the highways, getting new projects underway and providing the budgets for the constant maintenance needed to resurface and maintain roads and bridges.

It also keeps money coming to fund the emergency crews and law enforcement that keep the roads safe. It pays for programs that ease congestion and allow for the smooth flow of traffic across the nation and through our cities, and the money even goes to driver’s education and other programs.

All of these are things that go towards making a trucker’s life and business a little easier. Can you imagine the rutted, chaotic roads that would exist if the heavy vehicle tax did not? Not that it funds everything—because other taxpayers contribute as well—but it does help to ensure the money keeps flowing.

Most people have insurance in one form or another these days. We have no choice in the matter really. The fact is that anything can happen at any time and to mitigate that risk, we need to make sure that we are adequately covered. But how do you know you have the correct amount and kind of cover? There are quite a few guidelines that one should follow when considering insurance, but in this article I would like to point out a few very common mistakes people make when choosing their insurance policy.

Too lazy to shop around

Unfortunately this is often the most common mistake people make. The excuses that you may not have enough time to properly compare quotes is really ludicrous considering all the companies out there that will compare quotes on your behalf, only requiring that you fill in a single form with your details. If you aren’t willing to shop around for the best product to suit your needs and your pocket, you have no-one to blame but yourself.

Only comparing monthly premiums

For many people the monthly premium is really the bottom line, but this way of thinking could land you in hot water. Not only is that only a portion of what you need to consider, not looking at other factors such as excesses could really hurt you financially in the event of some disaster. In addition, you also need to consider the company’s track record. Make sure that there are not any major complaints on web forums about the amount of time taken to pay out or declined claims.

Fine print

Who enjoys reading fine print? I certainly don’t! Unfortunately, if we want to be sure that we are adequately covered and know exactly what to expect in the event of a claim, we need to be familiar with the terms and conditions of our insurance policy. Most countries have laws that state that an insurance broker must explain the policy to you in full when you are purchasing it. That person also needs to answer any questions you have satisfactorily.

Buying too many policies

Telemarketers call us very frequently, often with a line to the effect of “You have been specially selected…"This obvious marketing ploy will only take your money and dump it into unnecessary funeral plans, hospital plans, life policies etc. If you already have a policy in place, that should be good enough. If it is not, cancel it and get one that will be sufficient.

These few simple pointers will help ensure that you don’t pay too much for your cover and ensure that you are adequately covered in the event of a tragic event. Regardless of who you insure with, make sure that you follow these simple common sense principles before you sign your name to a contract.

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