Insuring a van for commercial use is not all that different from insuring a car for private use in terms of many of the considerations we need to make. For example, we still have Comprehensive or Third-Party cover to choose between, and to decide who our drivers will be. What is generally different is the class of use that we specify that we need in terms of what the van will be used for, and in terms of what it will be carrying. So, this article will consider this along with other factors specific to van insurance as opposed to car insurance.



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But what should we know about van insurance?


Cost of Van Insurance


It is more expensive to insure a van than a car because vans tend to have larger engines and storage capacities. The greater engine capacity links in with cars that are more expensive to insure because of their power and performance. This is due to their known increased insurance risks. Also, the fact that a van has a larger storage capacity relates to the likelihood that it will be carrying more valuable cargo than a car is likely to be. It is then due to that which makes the premium higher to reflect the assumed likelihood.

So, you can reduce the cost of your van insurance by thinking about the size of the van that you buy and only seeking out vans that are all you require in terms of their size. To go too big will push insurance premiums up needlessly, not to mention use more fuel than a smaller van would have done.

Paying for the insurance annually instead of monthly is another way that you can reduce your van insurance premiums. Although finance schemes are offered, you do not have to go with them, as long as you can afford to pay the full premium when it is renewal time. A deposit, at least, will be required on renewal to secure a cover note or insurance certificate that covers you to drive, should you find yourself stopped and checked on by any kind of authority.


Different Types of Van


Insurance will be affected by the different types of van. A light commercial vehicle (LCV) refers to a van that weighs 3.5 tonnes or less. Examples of this type of van include Mercedes Sprinter or Ford Transit. Insurers will only generally insure vehicles up to that weight under van insurance. The types of vehicles that can be covered under this type of insurance policy include transit vans, minibuses, pickup trucks, or Luton box vans. 3.5 tonnes is something of a magic number when it comes to van insurance and is rarely ever exceeded.

It is important to avoid van modifications if you want to keep your premium down. These are generally loaded with extra premium amounts by insurance companies if they even accept them.

When it comes to legalities, a van should not be overweight by more than 30%, or you could find yourselves with a court summons. So, there is this to bear in mind when choosing your type of van and not wanting it to be too small to need to overload, yet small enough to attract cheaper insurance.


Van Security


You will receive insurance discounts for good security, so it is worth improving this on your van. Tradesman will often, for example, remove tools from their van and store them in their homes and garages at night to reduce their theft risk. It is worth putting a sign on the back of your van to say that no tools are stored in it overnight so that thieves do not cause damage by looking for tools that they are never likely to find. It is as much about protecting your property as about thinking of the effect on your insurance. Claims will invariably put the cost of next year’s premium up.

One of the best theft locks for a van, according to police and industry experts, is a steering wheel lock. It is considered that this could also reduce your insurance.

To conclude, we should know that the size of our van will put up its insurance premium and that this is not just about its engine size but also its storage capacity. To come under the heading of van insurance, a van should not be more than 3,500 tonnes in weight.


Disclaimer: Please note that this is a contributed guest post. Views and opinions are not necessarily my own.

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