If you will be driving a van on public roads then you will need insurance. This article looks at the different levels of cover available to you and how different risk factors can influence the premium.
DIFFERENT TYPES OF COVER
It is a legal requirement to have third party insurance in place if you do not have a Statutory Off Road Notification (SORN) for your vehicle. This is the minimum level of cover that you can buy and covers you for any damage your cause to someone else's car/property or injuries that arise out of the use of your vehicle. It does not provide any cover for repair costs to your van, even if an accident was not your fault.
If you are looking for cover for damage to your van then you have two options. Third party fire and theft policies will cover damage to your van by fire, attempted theft or theft. Comprehensive policies will cover accident damage to your van, whether an accident is your fault or someone else's.
The type of cover that you choose will play a large role in the premium that you are charged. It is worth noting that third party only cover is not always cheapest, however, as some insurers are wary about the attitude to risk of people who opt for the minimum level of cover. It can be a good idea to check using a broker or comparison site to find the best level of cover for you.
For fantastic goods in transit quote a wise option will be checking the sites and calculating the amount of your payment so that you can compare the rates of various companies.
HIGH RISK FACTORS
In addition to the type of cover that you choose there are a number of other factors that could increase the premium that you are charged. Some of these you can't do anything about, such as your occupation or address, others, however, you can. Insurers apply a loading to the premium for young and inexperienced drivers so make sure that you only agree to insure these if it is absolutely necessary, particularly if you are looking for cheap van insurance. The same goes for drivers with a lengthy claims history or driving convictions.
REDUCING THE RISK
There are also a number of factors that can decrease the premium that you are charged. If you are able to park the van overnight off road, preferably in a garage or locked compound then you will be decreasing the theft and vandalism risk and should receive a premium discount. Similarly, if you can fit security devices such as an immobiliser or alarm then you should get the benefit.
It is important to think about the right type of insurance for you, particularly if you reliant on your van for business. Make sure that you are fully aware as to what cover the policy provides before you take it out. If you are looking to save money on your premium do what you can to eliminate high risk factors and, if you can reasonably do so, improve security to gain premium savings. By spending some time finding the right policy you can help prevent any nasty surprises when you need to make a claim.
Harry Wilson writes regularly on insurance for a range of websites and blogs. He is interested in helping people to get the best from their insurance policies such as by finding cheap van insurance that doesn't compromise on cover.