Van insurance is like car insurance except that this type of vehicle is mostly used for business purposes. There are factors about it that will generally put the price of the premium up.
Van insurance is usually available from the same insurers as car insurance will be. For a competitive quotation, you could try visiting https://www.onesureinsurance.co.uk/van-insurance.
For this article, we will consider some of the differences that are attributable to van insurance.
What Makes Van Insurance More Expensive?
Vans will tend to be more expensive to insure because they have larger engines. Insurers will, from past knowledge, load the premiums of vehicles that have more performance potential. Also, vans have the capacity for more storage, and with what is being carried comes an added risk of theft. This is for the vehicle and the goods inside. The combination of the two carries extra risk of both being stolen at the same time.
Ways to Lower the Cost of Van Insurance
In our considerations will be how we can lower the price of our van insurance to reduce the costs to our business or household budget. Some options are available to you that can make this possible.
You might want to consider a smaller van if you are paying more insurance because your van is larger in capacity than it needs to be for your business or purposes.
A good way to reduce an insurance premium is to pay for more voluntary excess. This is a calculated risk but worthwhile should there be no claims in a year.
Building up a no claims bonus is a long-term way to pay less and an incentive not to have a claim. It is peace of mind, though, to know that an insurer will cover your vehicle as well as the other driver’s if you have comprehensive cover.
A business with a fleet of vans to insure will want to employ responsible and experienced drivers to work for them, who are less likely to have accidents. Also, they may not want very young drivers who will invariably increase premiums no matter how careful their driving is.
Emptying your van at night-time will prevent items from being stolen. You could also put on a sign saying that you do not keep tools inside your van overnight so that thieves are less likely to cause damage or try and steal your vehicle.
Paying for an insurance premium annually, instead of by instalments, will keep your insurance costs down if your business’s cash flow can stand it.
Occupations Attracting Higher Premiums
If you are thinking of starting your own business, it is useful to know which occupations will mean higher insurance premiums to pay, so that you can factor them into your business plan.
The occupations creating more risk for van or car insurers will include car valets, builder’s labourers, construction workers, factor packers, fruit and vegetable pickers, painters, security guards, or waiters. This can be due to the kinds of hours worked and the tiredness likely, as much as the risk to a vehicle in certain environments. These kinds of occupations will influence insurance premiums whether you are employed or self-employed.
Obtaining more than one insurance quotation, or not just renewing with the same insurer each year regardless, can mean a cheaper premium for your van insurance. You are, of course, limited to insurers that offer van insurance, and do need to take care to match the same cover. There may well be a reason another quotation is cheaper. It can be that you have less cover, concerning breakdown cover, or a higher excess to bear.
Matching like-for-like is an important consideration when looking for competitive insurance quotations with any type of insurance. It is about including everything that you know about your risk, declaring everything so that your insurance is valid, and about whether there is a reason for your discount that disadvantages you greatly. Insurers can advise you on why you have been given discounts off your premium.
When you have a van, it is useful to know the insurance companies that like vans in terms of offering them favourable premiums. They will understand businesses and their needs in terms of what they use their vehicle for and what they carry, which is important. Always be sure to check your quotations carefully, so that they are what you are looking for.