Van Insurance Comparison Guide

Who needs van insurance?

If you have a van, you need insurance. Whether you use it for personal use or for a business, just to pop down to the tip or to carry tools and supplies for your company, you need to make sure that you and your van are insured.

The different levels of cover for van insurance are usually the same as standard car policies. But with some additional questions about you and your vehicle, such as purpose of the van (commercial or personal), type of van, age of van, weight and load of van, to see which category your van fits best into.

What types of van insurance cover are available

There are three types of insurance levels available for your insurance, and, as mentioned, they are the same levels you have for cars.

• Third Party Only – this is the minimum level of cover available and you must at least hold third party insurance to legally drive. If you need to make a claim, then your insurers will only pay out to cover the damages to the third parties involved in any accidents. Your insurer will not pay out for any damages or losses you experience.
• Third Party, Fire and Theft – This level of cover builds on from Third party, with the addition of covering you against any damage to the vehicle caused by fire, theft, or attempted theft.
• Fully Comprehensive – This is the highest level of cover you can get and includes all that Third Party, Fire and Theft does, with the added bonus of covering you as well, meaning your insurer will pay out for the cost of any repairs to your vehicle caused by accidental or criminal damage.

What causes a more expensive van insurance premium?

There are a few factors which can impact the overall cost of your van premium. When you contact an insurer to get a quote for your van insurance, they will be following certain categories to determine the cost of your van insurance.

If you haven’t bought your van yet, then take a moment to consider the following, as they can give you a better idea of the different factors which will affect your insurance premium.

• Engine size – The bigger your engine, the more powerful the van is, the more expensive your premium will be. Take the time to consider the size of your van, could you opt for a smaller van with a smaller engine?
• Security – if you have additional security features installed on your van, this usually brings down the cost of your premium, as you are less likely to claim for theft.
• Performance – How fast can your van go? How powerful is your van? Faster vans are statistically more likely to be involved in a claim, so this can drive up the cost of your insurance.
• Weight – The heavier the van, the more expensive your premium will be.
• Repairs – The cost of spare parts to repair your van can impact the cost of your insurance, as if you are in an accident, then your insurer may be required to cover these repair costs… including those costly parts.

Van Insurance comparison

Van insurance premiums can vary depending on a variety of factors, including optional add ons, tool cover, and they also take into consideration your personal driving history too. It is impossible to find a cost for each type of van insurance, so instead, we are looking at different insurers, what type of cover levels they offer and their optional add ons, including tools and goods cover.

Other things to remember

As part of any insurance application process, it’s important that you are honest and as accurate as possible with your quote, including disclosing the sole purpose of the vehicle. If you are dishonest, then it could affect your ability to make a claim.

We all know that a higher excess means a cheaper insurance cost. But it should also be a realistic and affordable cost, as this is what you will need to pay out per claim you make. If you commonly make claims, it’s best to keep this as low as possible, so that you avoid paying out more money than your insurance is actually worth.

If you are moving from a car to a van, remember to check about your no claims bonus, as sometimes this can be transferred to a van. Having a no claims bonus can make a massive difference to the cost of your insurance premium.

If you are keeping your car and buying a van, some insurers will also honour the no claims discount on both your car and your van. It is always worth checking with your existing car insurance provider to see if they will offer this to you.

When estimating your annual mileage for your insurance quote, you should try and quote as close to your actual mileage as possible, and also allow for some extra miles. The fewer miles you spend on the road, the cheaper your insurance will be, because there is less of a chance of you being involved in a crash and ultimately claiming. You could unknowingly be overestimating your mileage and paying more for that in your insurance premium. Look back over your MOT report as these will state your annual recorded mileage.

How big is your van? Does it need to be that big? How much will you be carrying around with you? If you’re buying a van, now is the time to consider the amount of items you will be carrying in the back. A larger van will ultimately cost more to insure as it means a bigger accident risk. If you’re only doing small jobs, then maybe consider a car-van as an alternative. To help you decide, take a look at our guide to choosing the right van for your business.

Increasing your van security can also play a big part in reducing your insurance premium. If you make any security alterations to your van, such as additional locks or alarms, then let your insurer know and be sure to include this in your quote.