Friday, April 1 2011
For businesses today, whether a sole trader or large commercial, insuring vans and other vehicles can be costly. It is important that each van has the correct insurance on it, depending on its business use and type.
Premiums can sometimes work out to be very expensive. Here’s a few tips from Money Saving Expert Martin Lewis to keep van insurance premiums as low as possible especially with the new financial year beginning.
As with all van insurance policies, it is vital that business owners do search and compare van insurance across the market and don’t buy the first policy they come across. It is also important to choose your van make and model correctly, buying a vehicle that fits your business purposes.
Larger vans and trucks with greater capacity often require higher van insurance, so firms can keep premiums low by using the van size that meets, not exceeds, their own business requirements. Van insurance can also be effected by security, with many businesses using a garage or installing security alarms and devices to reduce their premiums.
Martin Lewis, a money saving expert, revealed, “It’s worth considering going for a policy with a higher excess (the amount of any claim you need to pay yourself). Many people will find that claiming for less than £500 worth of damage both increases the future cost of insurance and can invalidate no-claims bonuses, meaning it’s not always worth making a claim.” Comparing van insurance with a comparison site such as the Van Insurer could save you money in the long run.