Van Insurance

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Van Insurance

Shopping for van insurance can be a complicated and mundane task. There is a wide panel of insurers on the market that offer highly competitive van and commercial vehicle insurance both online and by phone, but choosing the right policy can be very tricky.

The use of motor vehicles for commercial purposes means that your van insurance is likely to be very different to standard drivers, e.g. your commercial vehicle may be a pre-requisite for a business to function - a van used by a courier company.

Some companies will offer policies for 'Own Goods' insurance for private owners and small businesses, which may include covering vans and pick-ups up to 6 tonnes in weight. Other companies may include special policies to cover classic vans, etc.

To make sure that you get the best deal from this type of insurance you should give as many details as possible to make sure that you get the best quote available.

The following is a list of a number of different factors that can be used to save money by reducing the cost of your insurance :

• The van you want to insure (size, make, etc) - the make and model of your van will affect the price you pay to insure it, as will it’s engine size, value, and weight. A high powered van with a large engine will be more expensive to insure than a smaller van as the larger van will be deemed a higher risk.
• The security you have - Enhanced security on a van such as an alarm, an immobiliser or a tracker means it is less likely to be stolen or broken into, meaning cheaper insurance quotes.
• Location - Insurance will be higher if you live in an urban area or an area which has a high crime rate, as you are more likely to have your van stolen. People living in cities are thought to be more likely to have an accident, as they will be surrounded by more hazards and an increase in traffic, so insurance prices will be more expensive compared to living in a rural area.
• What you use the van for - Some brokers won’t be able to give you a quote if you use your van to carry hazardous or toxic materials due to the increased risk that comes with these materials.
• The drivers you want to insure - It’ll be harder to find cheap van insurance for any drivers who have been refused insurance in the past, or who have had special terms imposed on a policy. An ‘any driver’ policy will always cost more, so consider carefully who you want to insure to drive your van.
• No claims Bonus – Every year that passes without a claim being made on your insurance policy will entitle you to a ‘no claims bonus’. This is a discount on your insurance premium. Each vehicle will earn different No claims Bonuses.
• Voluntary excess amount - Voluntary excess can often reduce the cost of your van insurance policy although you will have a larger amount to pay in the event of you making a claim.

Useful Tips on Van Insurance:

• The van’s value, type and engine size will all make a difference to your van insurance premium. Remember, most vans are given an insurance group ranking which is an analysis of the level of risk involved with each van type and group (often based on the likely repair costs).
• Use your voluntary excess to lower your van insurance premiums. The excess is the first part of a claim that is paid by you, which can be recovered if the claim is deemed ‘non-fault’ by your insurer. Increasing the amount you pay in voluntary excess can lower your premiums.
• Ensure your vehicle is fitted with security features, e.g. alarms, trackers and immobilisers.
• Prove you have gained experience, some van insurance companies will apply discounts if you can show proof of driving other company vehicles.
• Declare your No Claims Bonus. Some van insurance companies will mirror your No Claims Bonus from your car onto your van, but note that you cannot transfer this bonus.
• Keep the van in a garage or parked on a driveway.
• Protect your No Claims Bonus. You can apply to have a protected no claims bonus, so that if you have to make a claim, you do not lose your No Claims Bonus. Many insurance companies will offer ‘protected no claims bonus’