We all love a good bargain- especially when it comes to things like finding the best insurance deal. But cheapest is not always the best. Read our handy guide to find out all you need to know and where to go to compare van insurance deals.
Firstly, be clear about the difference between car and van insurance. Car insurance consists of three types: Third party covers damage to another vehicle whereas third party, fire and theft includes damage to another vehicle, protection against theft and damage from theft and fire. The highest level of protection is provided by fully comprehensive policies although you do have to check the small print for any exclusions.
With regards to van insurance, there are four types. Most vans are used for commercial purposes so these are the focus of this article.
If you are a tradesperson, you need Own goods van insurance- this covers all the goods for example tools and equipment that are needed to do your work (but not other people’s).
If you transport shipments such as from internet orders Courier van insurance is perfect for you. This carries more risk as vans travel through mostly urban areas and may be targeted by thieves. Hence, courier van insurance is more specialised and more expensive than own goods insurance. Again, you need to remember that it only covers the van and not the goods.
For insurance that covers the items being transported, take out Goods in transit (GIT) van insurance. For the policy to be valid, you must declare the type and value of the goods being transported. This applies even if they are hazardous or expensive which may raise your premiums.
Finally, there is Haulage Insurance. This works in the same way as for HGVs as it covers the risks of long motorway journeys for dropping off goods in one direction. Some policies include European cover. As for courier insurance, only the van is covered by the policy and not the goods.
Other factors that can affect your premium
These include age and where you live. Older people are more experienced drivers and usually have lower premiums.
Van insurance policy checklist- do’s and don’ts
- Do check it carefully to see what is covered- cheapest is not always the best.
- Do make sure that you have the correct vehicle category– car-derived, micro, small, medium or large.
- If you’re buying a van, go for the smallest that meets your needs as smaller vans have cheaper insurance than larger ones.
- Don’t forget that you can take off replacement van insurance to reduce your premium if you have another van.
- Do check online for discounts and add extra security features to your van.
- Do find out if your policy qualifies you for additional driver training or motorway tests.
In short, do your research carefully when purchasing a new van and insurance and make sure you use the money expert comparison site to find the best insurance.
