Making Savings On Commercial Van Insurance
The kind of vehicle cover you need will depend on whether you use your van as a sole trader or as a small business
. When you get cover for driving your car, it is the individual that is covered, for business use it is often the vehicle that is covered.
A number of employees can drive their employer's van simply because it is the vehicle and not the individual that is insured. When you have one or more named drivers on your policy, some companies will also give you a discount.
There are various ways of saving money when you insure your company van.
Different companies all have certain requirements that need to be met and the more of these requirements you can meet, the more likely it is that you will save money on your van's cover. If you already have insurance on your company van and the policy is coming up for renewal, you may stand more chance of saving on your premiums if you simply reapply for your cover rather than just simply renewing it.
Most companies that offer commercial van insurance will also include cover for tools, fixtures, locks and windscreens when you have fully comprehensive cover. You can also save money by increasing the excess on your policy i.e. the first part of any claim that you are required to pay, increasing your excess will save you money on your premiums. If you have to make a claim where you were not at fault, then your insurer may refund you the excess. When you purchase a company van, don't buy one that is larger than you need as the size and original cost of your vehicle could increase the cost of your policy.
If you have had another business where you drove a van or simply had experience of driving a company vehicle then your insurer might reward your experience with a slightly lower premium. A classic trick for saving money on your premiums is to increase the security of your vehicle, both with extra security devices and ensuring that your van is safely locked away at night. If your business can handle it then try to cut down on your mileage as this will also have implications for the size of your premiums.
You may move goods in your company van and if this is also part of your business, then you will need goods in transit cover. If you can show that your cargo is well secured then this could have a positive impact on your insurance costs. Cargo is insured two ways, for value and for hazard; you will only need the latter if you tend to transport dangerous chemicals or oil that may require expensive clean up operations if it is accidentally spilled.
The final way that you can save money on your company's commercial van insurance is to shop around for the policy that gives you the best offers. The savings that you can make on your insurance are not always immediately visible, which is why it is best to go for the best offer rather than the cheapest price when you insure your company van.
by: Tom Jones
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