Insuring Your Van For Work

With van insurance, we will look to obtain a good price for our insurance, just as we would with our car insurance. If we have a business, then we will likely be keeping a closer eye still on our costs. These represent expenses for our business that will ultimately reduce profits to an unsustainable level should they rise beyond our control. Insurance companies can help you to keep your business profitable by reducing your insurance expense through discounts.

To seek out a competitive quotation or find out more about van insurance, beyond the scope of this article, you can follow the link Below, we shall see what is involved for someone wanting to take out a van insurance policy, whatever their position or situation.

How to Go About Insuring a Van

Insuring a van is just like a car, except that the usage of your van will be given more consideration. Quotations are available online for you to make price comparisons.

The typical questions asked, whether inputting online or making telephone contact, will include:

  • The postcode of where your vehicle is kept – This will help insurers allow for the crime rate in your area.
  • Where exactly your vehicle is kept – The most secure location will be inside a garage at home or inside work premises, although this is not always possible, of course.
  • Occupation – The type of business will significantly impact the cost of insurance.
  • The number of drivers that are required to be added to the policy – Premiums will lower from the age of 25 to 60.Insurers consider anyone under the age of 25 as a “youthful driver”, and therefore a greater insurance risk,in terms of vehicle insurance.
  • Type of cover required – newer vans or those on credit agreements will need to be insured comprehensively to protect all parties concerned.
  • Security – An immobiliser fitted, such as a Thatcham-approved device, will generally mean a discount is given on a policy. This is particularly so when it is a Thatcham
  • Excess – If you elect for more excess then you can lower your insurance premium further. It is a gamble based on whether you will need to make a claim. The insurer will still be paying the lion’s share of any claim, however, whether it should relate to vehicle damage, injury, or theft.

Commercial Van Insurance

Commercial van insurance (also referred to as business van insurance) will also cover work vans, in respect of personal and business possessions, such as tools. This is in addition to covering the van for accident damage, fire, and theft. Also, the windscreen cover, which can be optional with some policies,will generally be included as standard. Commercial van insurance extends the cover of a basic van policy to provide the kinds of extra protection a business needs.

This type of insurance will cover travel to many places of work, as well as provide cover for goods or materials that are transported as part of the business. 

There is more risk to insurance companies in respect of the likely number of claims with a commercial van insurance, so their insurance premiums will reflect this.

It should be noted here that business, or class 3 cover, is also available for cars if you do need the kinds of storage capacity a van provides, but still need a vehicle as an integral part of your job. This might be whether you are a taxi driver, driving instructor, or an infrequent delivery driver for smaller items. These kinds of cover can usually be arranged through the same insurer that will offer commercial insurance for vans. 

Insurers will normally have specific departments set up to take care of the needs of business customers. Online, it might seem like all one department that has been divided into just headings to click on, but internally, business customers have that special service, which is geared to their needs. If you ring up for advice, it can be specific business insurance advice that you are receiving.

Alternative Payment Methods

You do not have to pay the premium all in one go because you can pay in instalments, through a direct debit arrangement set up through your bank. It is convenient for businesses not to have to pay premiums in a lump sum, particularly where there is a fleet of vans to be insured. There are also many sole traders with a single van that would benefit from spreading the payments out. Cash flow is the biggest issue for any business and insurers are making it easier by offering convenient ways to pay.

It is, however, necessary to bear in mind that you will pay more when you opt for direct debit. It is, though, an invaluable option should that cost come along as one large bill at a time that a business would struggle to pay for it. This may be due to seasonal factors when a business makes more money at certain times of the year.

We hope that the above offers some advice on how you go about insuring for a van, in terms of what questions you are likely to be asked. It may well be commercial van insurance that you need. Whatever type of van insurance it is that you are seeking, you can pay for it in whatever way suits your financial circumstances, after obtaining a quotation that pleases.

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