How to get cheap van insurance
Having the right level of insurance is more important than price; it is not worth, for example, changing your usage to save a few quid, only to find that when you do need to claim that your insurer will not pay out, as you do not have the right type of insurance cover.
Fortunately, there are things you can do to get cheaper van insurance:
- Shop around
- Increase your voluntary excess
- Get a smaller van
- Advertise your business on your van
- Build up your no claims bonus
- Improve your security
- Be a member of a trade body
- Pay for your policy annually
- Take an advanced driving course
- Be honest
Should I shop around for cheap van insurance?
Yes; you should shop around for cheap van insurance. Use van insurance comparison websites and check your auto renewal price against competitors and this may help you save some money.
Does increasing my voluntary excess help me get cheaper van insurance?
Yes; by increasing your voluntary excess, it is often possible to get cheaper van insurance premiums. However, this will mean that if you make a claim, you will receive a lower pay out as the figure will be adjusted to compensate for your increased excess.
Does getting a smaller van help with the cost of van insurance?
A small van can help keep the cost of van insurance down. The bigger the van and the more powerful the engine is, the more likely you are to pay more for your insurance. If you can get away with a smaller van then it could lower prices.
Can having signage on my van mean I pay less van insurance?
If you are using your van for business, having signage may mean that, statistically, it’s less likely to be stolen. So, declaring you have van signage, if requested when you search for a quote, could help to lower your costs. However, if you are still with the same insurer then they may class it as a modification and could charge extra.
Does having a no claims bonus mean I can get cheaper van insurance?
Yes; the longer your no claims bonus period, the cheaper your van insurance tends to be. This is because insurers usually reward van drivers who do not claim by giving them a percentage discount on their premiums.
Can improving the security of my van reduce the cost of my van insurance?
Improving the security of your van can help to reduce the cost of your van insurance. Adding extra security such as approved alarm systems, immobilisers and trackers can help to bring your costs down. Also, parking your van securely overnight, or on a driveway, lowers the chances of your van being stolen or vandalised.
Can I get a discount on my van insurance if I am a member of a trade body?
It is possible to get a discount on van insurance if you are a member of a trade body. Some insurers will offer money off or special deals for recognised trade bodies such as:
- The NICEIC
- Gas Safe
- Federation of Master Builders
- Federation of Master Craftsmen
- The FPDC
So it’s always worth mentioning to your insurer if you are a member.
Does paying for my policy annually save me money on van insurance?
Yes; it is usually possible to save money by paying your van insurance annually rather than monthly. While monthly payments may be easier to manage for some, it can cost more in the long run due to fees that the insurer may levy, such as admin costs.
Can taking an advanced driving course help get cheaper van insurance?
Taking an advanced driving course, such as Pass Plus and IAM, can help you get cheaper van insurance; especially if you are a young or inexperienced driver. However, not all insurers take this into account so shop around.
Being honest when you take out van insurance can pay dividends in the long run. Not accurately declaring what you use the van for, or hugely underestimating your mileage to save money, can backfire. It may result in a refused claim and you could have your policy cancelled – leaving you uninsured, which is illegal.
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