For a good deal of businesses, vans are what help them to carry out their work; transporting them from a to b, and enabling them to carry vital tools and equipment with them wherever they go. With this in mind, they’re absolutely an asset worth protecting, but with huge discrepancies between van and car insurance, if you’re buying a van for the first time, you may well be shocked at the cost of your insurance premiums.
Fortunately, there are ways to keep your insurance premiums down as a van owner and enhance your overall van security, and below are 9 highly effective ways to do exactly that:
1. Be precise and truthful about your mileage
If you submit incorrect information pertaining to your estimated mileage, you run the risk of your coverage being cancelled, a claim being refused, or your premiums going up the following year. While higher mileage typically results in higher premiums, not being upfront about it will almost always result in bigger, often costlier problems, further down the line.
2. Carefully consider the different coverage levels
Try getting a quote for third-party cover, third-party fire and theft cover, and comprehensive cover: while cost alone shouldn’t be the only factor you take into account when choosing the right coverage, it can be helpful if you’re trying to cut costs.
3. Check who has been added to your policy
Younger drivers or those with points on their license can give your insurance premiums an unwanted boost, so reviewing who really needs to be on your insurance, is a sensible move to help keep costs down.
4. Choose a greater voluntary excess
Excess refers to the amount you agree to contribute in the event you make a claim, and it’s always worth checking what the difference is between you paying a larger amount, and a lesser amount when getting a quote, as choosing a greater voluntary excess could help you save some money. Do note, however, that if you opt for a higher voluntary excess, you may end up paying out more in the long-term if you’re forced to make a claim.
5. Enhance your van’s security
With the use of immobilizers, steering-wheel locks, trackers and alarms, you could help keep your van and everything in it more secure, while helping to reduce your insurance premiums and make your van less susceptible to theft and/or vandalism.
6. Build up your no claims bonus
Simply put, the longer you can go without having to make a claim on your van insurance, the larger the discount on your no claims bonus.
7. Check before paying for signwriting services
Signwriting on a van can be a great form of advertising for any business, but it’s worth checking with your insurance provider and the DVLA before you pay for it, as to whether it may be classed as modifications, and hence could cause your insurance premiums to go up.
8. Choose a lower insurance group
As with cars, lower insurance groups mean lower insurance premiums, and vice versa, so it’s a good idea to check an online ‘insurance group checker’ to see whether your van is in the right insurance group.
9. Avoid off-road parking
Wherever possible, park your van in a garage or on your driveway (or someone else’s driveway if permitted), to significantly reduce the risk of it or its contents being stolen, or it being struck by a passing vehicle; both incidents of which could cause you to make a claim on your insurance. A securely parked van could help you obtain lower insurance premiums, especially when combined with additional security in the form of a Bear lock system.
For some businesses, vans are essential, and paying more for van insurance premiums is just something they’re forced to accept. However, by trying out some, or all of the 9 suggestions above, you can lower your insurance premiums, and help keep your van more secure in the process, too.