Why should I get monthly van insurance?
Taking out a monthlyvan insurance policy can help you to manage your finances. You will know exactly how much you will be paying each month and when, and you won't have the worry or burden of having to pay for a year's worth of insurance in one go.
When taking out a monthlyvan insurance policy, you can agree beforehand on which date you would like to make payments, making your life that bit easier. For example, if your cash flow is tight, then it would be sensible to make your payments just after payday to make sure you don't come up short and miss any payments.
Also, you don't always have to commit to a year. Many insurers now offer temporary van insurance, with flexible dates ranging from anywhere between a few days to a few months.
Why shouldn't I get monthly van insurance?
Paying for yourvan insurance month by month is usually more expensive than paying for it upfront. By paying for it all in one go, you won't be charged any interest, whereas you will if you pay in monthly instalments. You may even have to pay a deposit to get a monthly van insurance deal, depending on which insurance provider you choose.
How can I save money with monthly van insurance?
Other than shopping around and finding thecheapest van insurance quote, there are several ways you can make your monthly van insurance cheaper and save money.
The amount you pay on your van insurance depends on what level of cover you go for. There are three main levels of cover, but the lowest level of cover is strangely not always the cheapest. That makes it even more important tocompare van insurance prices when taking out a policy.
The most basic level of cover is third party only. This covers the cost of any damage caused to another vehicle, person or property in the event of an accident. Third party, fire and theft cover is the next level up, and protects you against the cost of any damage to your van caused by fire or theft. The highest level of cover is comprehensive, which covers everything the other two levels do, but also any damage caused to your own van in the event of an accident, regardless of whether it was your fault or not.
The size, power and value of your van will also affect the cost of your cover. Generally, the bigger and more powerful your van then the more expensive your insurance will be. All van models are categorised intovan insurance groups. There are 20 in total, and the lower thevan insurance group, the cheaper your premium will be.
You can also reduce the cost of your insurance by choosing to increase your voluntary excess. This is the amount you will pay when it comes to making a claim. The higher your excess, then the lower your premium should be. However, don't set it too high so that it becomes unaffordable to make a claim when you need to.
By increasing the security of your van, you will also be rewarded withcheaper van insurance. If you can show to your insurer that you park your van in a locked garage overnight, or if you install an immobiliser or extra alarm, you can getcheaper van insurance.
But the quickest and easiest way to lower your premium is to shop around andcompare van insurance prices. Use our van insurance price comparison tool to find the best monthly van insurance deals with the lowest interest rates. You should always do a price comparison when it comes to renewing your van insurance, even if you're happy with your current provider, as it's rare that you will get rewarded for loyalty and likely that you can find better deals elsewhere.