Where can I find van insurance?
If vans were taken away from Britainís businesses, chances are that the
country would grind to a halt. If youíre a small business owner with a
van, then cutting your costs will be pretty high at the top of your
agenda. Fuel bills and road tax are on the increase, so when it comes to
van insurance policy, you will want a better deal. After
all, itís simply not an option to drive uninsured: youíre liable for a
fine or a driving ban if youíre caught.
What should a policy provide?
The cheapest insurance option might look tempting, but you should always
check that youíre getting the right cover. The policy might look great
value, but if it doesnít offer adequate protection should you need to
call on it, then it could end up seeming like a complete waste of money.
Policies differ from insurer to insurer, so thoroughly investigate the
terms and conditions of the packages which tickle your fancy for the
exclusions, the circumstances in which you wonít be eligible for cover.
Keep your excess in mind, too. This is the compulsory amount that you
will have to pay in the event of making a claim.
You should also check whether or not the policy includes a no-claims
bonus, and if so, what itís worth. These reward safe drivers by giving
discounts on insurance, sometimes as much as 60 per cent after five
years without making a claim.
How do I save money?
Insurance companies base what they charge for your premium on several
different factors. These include:
- Your driving history
- Where you are based
- Annual mileage
- The sort of van you drive
If you minimise the level of risk that you present to an insurer, then
the lower your premiums will be.
There are a number of ways to do this.
Get a van which is fit for purpose: If youíre transporting
smaller, lighter goods then there isnít much point having a larger van.
Smaller vans tend to cost less to insure.
Only pay for what you need: consider thoroughly the level of
insurance that suits you. Keep the optional extras down, unless you
really need them. Having a replacement van in the event of an accident,
for instance, might be a feature you donít need.
Bolster your security: decrease the likelihood of your van being
attacked by thieves through improved security measures like alarms and
immobilisers, and if possible, lock your van up at night. Also make sure
that all goods or tools are removed every evening and add graphics to
your van to ensure that potential thieves get the message that the van
Fit a tracker: on the subject of security, fitting a tracking
device will mean that in the event of your vehicle being stolen, you
will be able to trace it to its whereabouts.
Increase your excess: raising the voluntary excess on your policy
will make your premium drop. But make sure itís set at a level which you
can afford in the case of the worst happening.
Agree to a mileage limit: Obviously this wonít be entirely
practical in some cases where heavy mileage is essential to business,
but agreeing to a mileage limit will decrease the risk of accidents and
cut the cost of your premium.
Make a one-off payment: If itís possible, pay for your van
insurance annually. Spreading the cost usually incurs a charge.
Shop around: Using a
comparison website will allow you to quickly and easily see what
price many companies could offer you a policy for. Many insurers will
also offer a discount for buying online as a result of this having lower
overheads. But always make sure the policy you buy will cover you
adequately: the cheapest really doesnít mean the best!