RS - Reducing Van Insurance

Top 10 Tips for Reducing Your Van Insurance

Your van works hard to keep your business going. Day in and day out, it puts in the hours to help you get the job done. Finding the right level of cover for your van and business doesn’t have to be a pain in the wallet or time-consuming. We’ll help you find the right level of cover at a price you’ll love.

New van drivers could be shocked by the price gap between van insurance and car insurance. But it all makes sense when you take into account that the risks are greater and that they are out on the road for longer periods of time.

As a result, you might begin to ponder how to reduce the cost of your van insurance. Thankfully, there are a number of ways to save on your insurance premiums. With a little time and not much effort, you could save big. Continue reading to learn how to save money on your van insurance.

Correct mileage

Be upfront about your mileage!

Giving a precise estimate is crucial since insurers use mileage to determine how much your premium will cost. A larger premium is more likely the higher the mileage. The likelihood of an accident increases the more time you spend driving.

If the information submitted is wrong, coverage can be cancelled or a claim refused just like with any other insurance. It may also result in a hike in your premium the following year.

Compare different levels of cover

As with car insurance, there are three levels of cover: third-party, third-party fire & theft and comprehensive. When shopping around for insurance, it’s worth getting a quote for each level of insurance.

Third-party insurance is frequently the cheapest. Keep in mind that you will not be covered if you file a claim for theft or if you are involved in an accident which is your fault. This could cost you money in the long run and should be included into your decision when selecting the best coverage for you.

Review who is added to the policy

Young apprentices or drivers with points on their licence can increase your van insurance premiums.

It’s a good idea to review who needs to be on your insurance on a frequent basis. Drivers under the age of 25 and additional drivers with a poor claims history will almost certainly cause a rise in premiums prices.

Increase your voluntary excess

Excess is the amount you will contribute should you make a claim. It’s worth evaluating the difference between paying larger and lesser amounts when you obtain a quote to see if you can save money by choosing a greater voluntary excess.

However, if you decide on a higher voluntary excess, you might pay more in the long run if you have to make a claim.

Improve van security

Improving the security of your van is an excellent way to minimise your premium. Immobilizers, trackers, steering-wheel locks, and alarms will all help to protect your prized possession.

Making your vehicle more secure reduces the possibility of it being broken into or stolen, both of which would result in you having to file a claim.

Build up a no claims bonus (NCB)

This is a long-term project. The longer you go without claiming on your van insurance, the bigger the NCB discount you’ll get. It’s as simple as that.

Sign-writing

Not only does having your van with signwriting make good business sense, but it also makes it recognisable.

However, before getting any type of signwriting, verify with your insurance and the DVLA. Some vinyl wraps may be regarded as modifications, causing your premiums to rise.

Drive a van in a lower insurance group

Like cars, vans are put into insurance groups. And like cars, the lower the insurance group, the lower the insurance premium. The same is true for higher insurance groups, which have higher premiums.

There are a number of websites that offer an ‘insurance group checker’ that will allow you to enter the registration or make and model to identify a vehicles insurance group.

Off-street parking

Those of us who are lucky—or unlucky—enough to live in a large city are well aware of the difficulties in finding parking on the street. Let alone outside our own homes. But parking on the street may be your only option so your vehicle may not even be visible from your home.

Compared to parking on the street, parking in a garage or on a driveway reduces the risk of theft or your vehicle being hit while parked. If your van is parked securely on your drive or in your garage some insurers may lower your premium.

Use a broker

There are several benefits to using a broker, especially in terms of time and money saving. A broker is an expert when it comes to insurance and will utilise their knowledge of the industry to get you an excellent policy at a competitive price. Additionally, they could offer insurance at discounted rates not found on other websites.

Now that you have some excellent suggestions for lowering your van insurance, why not find out how much our van insurance experts may save you?

Share this post