subject: Van Insurance Guide For Commercial Vehicles [print this page] For any private company that uses commercial vans, commercial insurance is one of the most important decisions that has to be made not only quickly but intelligently. The wrong van insurance choice could end up costing you thousands of pounds needlessly, and when dealing with a fleet of transit vans, Luton vans, etc costs can quickly become untenable. Choosing the right amount and the right type of commercial insurance policy is of vital importance to your company and must be carefully thought over. Finding the best priced and quality van insurance should be done with your eyes wide open and a variety of insurance companies and policies should be looked into.
The Three Common Commercial Van Insurance Choices
For most UK companies that use commercial vans there are three levels of commercial van insurance that offer a range of protection and costs. Depending on your level of needs and your expense account these different levels of commercial insurance policies offer varying levels of usefulness.
Third Party Only Commercial Vehicle Insurance
The cheapest level of commercial van insurance, third party only is the lowest possible commercial insurance that can be used for Luton vans, transit vans, and other types of van fleets. If your company does not have this level of commercial insurance or higher, your commercial van cannot be on the road. Third Party Only van insurance covers damages and injuries that may occur to a third party if your commercial van is in an accident. Unfortunately this insurance is the cheapest because it only supports the third party. Any damage to your transit van and your company driver is not covered. This commercial vehicle insurance also does not cover fire, auto-theft or vandalism. But for a small company with a clean driving record it is the cheapest choice.
Third Party Fire and Theft Commercial Insurance
Third Party Fire and Theft van insurance is used in combination with the basic Third Party insurance policy adding an extra level of security for your company. If your transit van or Luton van is stolen or is set on fire, you are covered against damages and loss of your commercial vehicle. To collect the insurance you must file a report with the police, but once that is done the insurance policy will pay you for the damages. The best insurance policies also pay legal costs to help deal with solicitor fees, and should be considered if your commercial vans are used in areas of high crime.
Comprehensive Cover Insurance Policies
Comprehensive Cover is an all around insurance policy that protects against accidents, auto-theft, fire, vandalism, and most other types of damage regardless of who caused it. This level of van insurance is the most expensive but due to its wide coverage it is the most popular insurance policy for commercial van companies. However this Comprehensive Cover insurance policy will have certain exclusions and excesses. You may only be able to claim a certain amount and some types of damage may not be covered. As with all insurance policies it should be read carefully to ensure it suits your companies needs.
by: Mark Wood
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