How much Van Insurance do I need?
Shop around to get the best deal on your van insurance. The cost depends on the level of cover you’re prepared to pay for.
Which Level of Cover?
There are three levels of van insurance - Comprehensive, Third party fire and theft and Third Party only (TPO) policies. Each type of insurance type covers different levels of risk.
Juggling commercial needs and budget isn’t easy. Pick the brains of a van insurance specialist before you buy, especially if you’re a young driver, employ drivers under 25 or have drivers on the payroll with motoring convictions.
For van couriers, goods in transit insurance is essential.
The bottom line is if your van’s in a collision or broken into, your insurance cover should be comprehensive enough to ensure your business doesn’t suffer unduly.
Decide on how important the following benefits are to you, get quotes from several insurers and then compare quotes for the best price.
- Legal and liability costs
- Legal protection
- New for old replacement or repair
- Comprehensive accident assistance
- Accident hire vehicle
- Breakdown recovery
- Courtesy van
- New for old replacement
- Key cover
- Goods in transit and tools cover
- Personal belongings cover
- Stereo cover
- 24-hour helpline
- No claims discount
- Online discount
- Low excess
- No Claims Bonus Protection
- Driver death benefit
- Get to your destination benefit
- Window and windscreen repairs
How to get cheaper Van Insurance
- Go for smaller vans - the smallest weight and engine size possible for your purposes. Larger engine capacity is viewed as a hazard.
- Invest in anti-theft devices such as immobilisers and alarms. Most new vans have these as standard. Aftermarket Thatcham approved systems could earn additional discounts.
- Keep vehicles in a locked garage or off the road.
- The older the driver, the more experienced, therefore the lower the premium - drivers over 25 and under 65 tend to be cheaper to insure
- Increase the voluntary excess payable, ie, the amount of money you agree to pay out in the event of a claim. The higher the excess, the cheaper the quote.
- Don't store tools in your vehicle
- If you can, transfer your car's no claims bonus to your van
- Limit what you use the van for, eg, no hazardous or toxic materials
- An 'any driver' policy costs more, so limit drivers to save money