Van Insurance Guide and How to Reduce Your Premium
Van insurance covers you against a number of different risks relating to your van in a similar way that car insurance covers cars. As we discuss below, this could either be for person or business use. Here we look at the different types of cover available, and just as importantly, how to reduce your premium.
Before applying for cover you will need to establish which type of cover you require. This will depend what you use your van for.
Different types of cover
Social
This cover is perfect if you are using your van purely for personal trips. For example, if you use your van for leisure activities, or road trips when you simply need a bit more space.
Own Goods
This type of cover is required if you use you van for business purposes. For example, builders or plumbers would belong in this category.
Haulage
Select this category if you use your van to deliver third party goods. This would include furniture removers and couriers.
Level of Protection
Once you have established your type of cover, you should then consider the level of protection you will require. Similar to car insurance, there are 3 levels of van insurance; third party, third party fire and theft and comprehensive insurance.
Third party only cover is the minimum level available and covers you from damage or injury to another person or property, but does not cover the owner’s vehicle. In turn, should your van suffer any damage, you’ll be liable for the cost of repairing or replacing it.
Third party, fire and theft offers the same level of cover as third party only cover and it also covers loss or damage to your own van if it’s caused by fire, lightning, self-ignition, explosion, theft or attempted theft. It won’t cover any accidental damage to your own van that’s not caused by fire or theft
Fully comprehensive van insurance cover provides protection for damage to the van itself, property, and yourself, even if the liability for the damage lies with you. Consequently, fully comprehensive insurance is usually the most expensive type of cover you can buy for your van, as it offers the highest level of protection.
How to reduce your premium
Even the smallest change to a policy can sometimes make a big difference to the van insurance quotes you receive. Below are some tips to help reduce your premium.
Add an Immobiliser or Tracker – Adding security features such as an immobiliser or tracker to your van you could help drive down your quote.
Reduce Mileage – Simply by driving fewer miles you are lowering the risk potential for your insurer and your premium will reduce accordingly.
Increase Voluntary Excess – The higher excess you agree to pay, the lower your premium should become. On the other hand you will need to be prepared to pay more money in the event of a claim.
Secure Vehicle Parking Access – If you keep your Van in a secure or locked garage, or to a lesser extent on a driveway, this again reduces the risk potential and can result in lowering your premium.
Buy a Van Fit for Purpose – When buying a van, make sure the vehicle is fit for purpose. For example, if you’re not going to be carrying too much around with you, you don’t need to buy a large transit. Smaller vans cost less to insure, so buying one to suit your needs can save you money. It is also worth considering the size of the engine and the wheelbase, as the larger the engine and longer the wheelbase model is, the higher your insurance premium is likely to be. You’ll also save money on running costs with a smaller van, so it’s worth considering for that reason too.
Compare Quotes from Different Insurers – Shopping around for van insurance can save you money, and using our quote engine is a great way to do so. We compare a panel of 40 leading insurers to ensure you get the best deal from the comfort of your own home. You can always call us and see if we can improve the quote too once you have your reference number. Get a van insurance quote today.
For further info about Van Insurance or to discuss lowering your premium, please click here
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