Vans and Insurance Premiums
Vans and Insurance Premiums
Swinton Commercial, a part of the Swinton Group, is assisting drivers by providing helpful information on picking the right van to get the best price on insurance premiums. When insurance companies calculate the price of premiums, the cost of the premium is determined by a set of factors with 20 rating groups dependent upon the amount of risk and the repair cost. For example, a large heavy van will, as a general rule will cost more to insure due to being harder to drive and costlier repair bills.
Van insurance comparison site from The Van Insurer
There are different size categories of vans; the size category of a van can have an impact on the cost of the van insurance premium. Vans are broken down into the following categories; micro-van, car-derived van, small van, medium/panel van, van, and large van.
As well as size having an impact on the cost of van insurance, such as large vans costing more to insure, there are other factors that can drive insurance premiums. These factors include engine capacity and type of engine, the cost of the van, the price of replacement parts, and whether or not the van has a security device installed.
Thatcham, a research group for the insurance industry, found that the best small van to insure in 2009 was the Peugeot Partner and the best in the larger van category to insure in 2009 was the Nissan Primastar.
Philip Moss of Swinton said to keep the price of premiums down, van drivers should select the smallest van possible that will still fulfil the purpose that they need it for, and compare different models to find the best van available with a good priced premium to go with it.
Article By alex
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