How to Reduce Your Van Insurance Spend
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Insuring a van can be an expensive business. However, there are several things that you can do to drive the cost of your van insurance downwards. Just follow this helpful guide:
Avoid claiming on your insurance if at all possible, so that you can build up a substantial no claims discount. The longer you continue to build up a no claims discount for, the bigger it will be, although there is usually a maximum discount level. If you have a no claims bonus on your car insurance, then your van insurance provider may well be willing to match it, so make sure you mention it when you are applying.
Due to the fact that vans tend to be used more heavily than cars on a day to day basis, they stand a greater chance of developing mechanical faults. While it may be quite expensive to insure your van against breakdowns, if you use it to make your living with then it could be worth the added expense just to get back on the road quickly. Ideally, your policy should include the provision of a replacement vehicle while yours is in the garage.
Big, heavy vans that are worth a lot of money tend to cost a lot more to insure than their lighter, smaller and less valuable equivalents, so if you have yet to buy a van, you will save a lot of money if you don’t buy a bigger one than you need.
Insuring a van for business purposes is quite a bit different to insuring it for recreational purposes, so make sure that you specify what your van will be used for when you apply for insurance.
Get quotes for all the different levels of van insurance cover available before you buy so that you can best work out what suits your needs – and your budget. Due to the fact that vans tend to be used more heavily than cars on a day to day basis, they stand a greater chance of developing mechanical faults. While it may be quite expensive to insure your van against breakdowns, if you use it to make your living with then it could be worth the added expense just to get back on the road quickly.
If you are going to be storing anything valuable in your van, such as tools or goods, then you might want to take out a separate insurance policy to cover you in the event of theft, as not all van insurance policies include this type of cover, or at least have it as a very expensive cost option.
Drivers that are young, inexperienced, or have penalty points on their license are expensive insurance risks, but if you fail to mention these details about any of the drivers of the vehicle, then your insurance may be invalidated when you come to make a claim, so, as ever, honesty is the best policy.
Not only will fitting an alarm and an immobiliser to your vehicle help to deter thieves, and thus reduce your risk of losing your no claims discount, but it can also entitle you to cheaper insurance with some providers, so be sure to mention it when applying.
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