There are a few differences between van insurance and car insurance policies and as such it is worth investigating these when comparing the market for the best deal. Vans differ considerably in size and purpose, and when you compare van insurance knowing the type and length of cover you need for your lifestyle it could help save you money in the long term.There are three main types of car insurance policy available for you to choose from:
The most basic level of cover, this type of policy will pay out if you damage another person’s vehicle or property but will not cover any repairs you need to make to your own vehicle.
This type of policy will give you basic third party cover, as well as cover against theft, damage done during attempted theft, and fire damage.
Fully comprehensive policies are the highest level of cover available and, depending on the particular policy, will cover you for more or less anything. It’s important that you read the small print for each policy.
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Two-thirds of the vans on the UK’s roads are used for commercial purposes. These vehicles will need van insurance policies that offer more coverage than vans used solely for personal purposes do. There are several types of commercial van insurance on the market. Selecting the type that matches the way you use your vehicle and what you transport will ensure your cover is adequate, your premiums are as affordable as possible, and your claims are approved.
These policies cover the vehicle and your own contents stored in the van, for instance the tools and equipment you need for your trade, but not other people’s goods or cargo. Some insurance policies will require you remove the contents from the van overnight—and advertise on the vehicle that you do so, to prevent the goods from being stolen and the vehicle from being damaged or stolen in the process. Own goods policies will be the most appropriate insurance for tradespeople who need to shuttle their own equipment from job site to job site but won’t be sufficient for couriers or anyone hauling goods.
If you use your van to transport shipments and items directly to customers, making successive short trips in a localised area, you’ll need courier insurance. Vans used for couriering are on the road longer than other vehicles, especially during the daytime and in urban areas, and carry goods, like internet orders, that may be of interest to thieves. These vans will need specialised, and more expensive, cover. However, courier insurance policies typically only cover the vehicle itself and not the goods stored in it. For that, you’ll need goods in transit cover.
If you use your van to make long journeys to drop off goods in one location—generally from suppliers to businesses and not directly to customers—you’ll need haulage insurance. These policies are effectively the same as the ones extended to HGVs, addressing the risks of high motorway mileage. Depending on your policy, your van may be covered across Europe. But again, haulage policies only cover the vehicle itself and not the goods stored within it.
Goods in Transit (GIT) policies cover the cargo stored and carried for commercial purposes within your van—goods owned by your clients and not your business itself. When obtaining quotes, you’ll need to supply information about the type and value of the goods you’re transporting. Carrying hazardous or expensive materials will increase your premiums.
Where you live affects insurance premiums so if you have recently moved house or business premises take the time to investigate the market rate for van insurance in that new area. Additionally, your premium should reduce with experience and as you get older, you may find a different policy provider will focus on insurance especially for this group which may be more beneficial for you at a different time in your life.
The cheapest deals are not always the best so make sure you look past the price and understand exactly what the insurance is covering and if you should have an accident whether it would be enough or if you are prepared to take the risk. Be sure to compare the excess you will be required to pay when claiming as these can be quite pricey especially if the insurance is cheap.
If you are in the process of purchasing a van check out the premiums for the different vans you are considering. For example, if you need the van for only small deliveries opt for a vehicle which can carry just that as the insurance will be cheaper than a larger one.
Also if you already own another vehicle then be sure to mention this to the policy provider as most include a replacement vehicle service and this could reduce you payments if you do not require it.
You will be offered an insurance policy depending on the type of van you own, there are car-derived vans, micro vans, small/light vans, medium/panel vans and large vans.
Just as with car insurance groups, prices for cover will vary depending on your van's category. Knowing which category your van fits is vital in obtaining the right level of cover.
Discounts are available on different policies. These can be acquired if you apply online with the same insurers or by adding extra security features to your van to make it safer on the road. Most insurers also provide a reduced rate for additional driving training such as motorway tests or lessens, or specific van driving training.