How much does van insurance cost?
How much van insurance costs can depend on many factors such as:
• How much experience the driver has
• Where the driver lives and where the van is kept overnight
• The make and model of the van, which will dictate the insurance group your van falls into
• The value of the van
• What level insurance you need. For example third party or fully comprehensive
• Additional extras. For example legal protection, trailer insurance, courtesy van cover and breakdown cover
• What you are using the van for. For example deliveries (such as a courier), carrying own goods (such as a builder, carrying tools and materials) or whether you need to be covered abroad
• If your van has been modified it can affect the cost of your insurance premium
When a van insurance provider gives you a quote, all of the above information will be taken into consideration, as will the level of ‘risk’. For example, if the van is kept in a high crime area overnight and parked at the roadside, the cost of insuring that vehicle is likely to be more than if the van was kept in a low crime area in a locked garage or compound.
Age and experience are also a big factor in determining the cost of van insurance. For example, younger drivers are statistically more likely to have an accident and make a claim, meaning that insurance premiums tend to be higher for younger people. A higher insurance premium also applies to inexperienced drivers – even if they have many years of no claims bonus as a car driver.
What you use the van for also affects the cost of van insurance. If you only use your van for pleasure or domestic use (this does not include commuting to work) then your premiums are likely to be less than those who use for business use. When it comes to using your van for business you will be asked what you use it for. Van insurance providers typically categories usage under the following terms:
• Carriage of own goods
• Carry goods for hire or reward
Carriage of goods tends to refer to your own belonging such as the tools of your trade or even your gym kit. Some companies can refer to carriage of own good as carriage of tools.
Carry goods for hire and rewards tends to focus on delivery drivers or couriers, while haulage coverage is for jobs that have fixed deliveries to established clients.
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