You may own a van for personal or business purposes. It could be to assist your hobby and lifestyle or to help people move house on the Isle of Wight. If you own a van, it can be expensive.
There are running costs that include fuel bills and repairs, plus your annual service and MOT and insurance can be another expense, making it all the more important to get the best deal possible. If this is something you are looking into right now, read on because this article could help save you money.
Shop Around, Don’t Stay
Van insurance is similar to car insurance and mortgages. You often get a good deal, but when it ends the payments shoot up. The insurance companies literally bank on the possibility that you won’t go elsewhere because it will take you time and trouble to find somewhere cheaper.
Whilst it can be inconvenient and time-consuming, it’s always worth shopping around for better deals. The only thing you’ll lose is the feeling of security that comes from being with a long-term insurer because they know your history. If you apply for quotes elsewhere you’ll have to enter your claims history and personal details all over again. At the end of the day, however, you may be glad you pushed through and found a better quote.
Use An Insurance Broker
One way to find out about cheaper deals is by asking friends if they have any recommendations. It’s also true that a broker can help save you money because they can compare more than 20 insurers at a time. You can ask for quotes online or request a phone call, even if it’s a camper van.
Whether it’s personal or commercial van insurance, you can read helpful FAQs online and have the policies explained to you if you are confused. This is an ideal option if you are keen on human interaction during the process, to ensure you get what you really need.
Check Price Comparison Websites
If you go to the website of a specific insurance company, they can only display their products and deals. Price comparison websites do all the work for you, by doing the research and displaying several companies at a time. This way you can compare the different levels of cover, and check out the best prices. If you’re happy to do everything online (without any face-to-face contact) this could be a viable option for you. Added to that the website would be available to consult 24/7 and the services are completely free and easy to use.
The only disadvantage would be that price comparison websites don’t always include every company on the market. This means you could miss out on a great deal if it is not featured on that particular website.
Understand The Different Levels Of Cover
It’s important to realise that there are different levels of cover for van insurance. You could pay for third party, third party fire, and theft or comprehensive cover. The latter will protect against any accidents that are not caused by a collision with another vehicle or object. It also covers theft from inside the van as well as outside if certain security devices have been installed. Needless to say, the more cover you require the higher the premiums will be.
It’s worth asking yourself the following questions beforehand:
Are you a small business owner, do you have an expensive van or do you rely on it for your living? Are you involved in driving as part of your work and do you transport goods? If so, do you need to transport large amounts of equipment or items that could damage other vehicles if they aren’t carried carefully? What would happen financially if your van was damaged by fire or theft and is it now worth less than when it was new? These questions should assist you in choosing your most suitable level of cover.
Find Ways to Keep Your Premiums Low
There are certain steps you can take to reduce your insurance premiums. They include raising the excess, which is the amount you’d contribute on a claim before the insurance company pays the remainder. If you drive safely and responsibly, this can help your no-claims policy. You could also consider if there are ways you can lower the number of miles you drive annually for work.
It’s possible to reduce your home insurance premiums if you have locks on your windows. In a similar way, if you improve the security of your van this can make the policy cheaper. You could do this by installing an alarm system or adding a security screen to the windows and doors. You could also have a vehicle tracking system fitted.
Bundle Your Policies Together
Sometimes you can reduce your car insurance if you add another driver (e.g. partner or spouse) to it. It’s also worth considering having your car and van on the same policy or bundling your personal and business policies together.
When people bundle their policies it can potentially save up to 40% on their insurance premiums. You can combine the policies when you involve more than one insurance provider for your van, home, and other forms of property. The benefit is that if something happens, the claims staff will work together seamlessly to get you what’s needed most. With bundled policies in place, it’s much easier to file a claim because there are no additional charges for filing multiple policy claims at once.
As you can see, there is more than one way to save money on your van insurance. Why not speak to an insurance broker or check out a price comparison website? Research the different levels of cover beforehand to be sure you get what you need, and consider bundling your policies together. Make your van secure from theft, and try to avoid road accidents. The final result will be that you can find a great deal on your van insurance and enjoy peace of mind as you use it for home or work purposes.
