How to save on your van insurance

how-to-save-on-your-van-insurance
Van insurance costs are determined by the level of ‘risk’ that the providers think you represent as a van driver.

If you want to save money on your van insurance, there are a number of things that you can do to help keep your premiums as low as possible; including:

• Use a van insurance comparison site to get a range of quotes
• Make your van more secure
• Increase your voluntary excess amount
• Build up your van insurance no claims bonus
• Add signage to your van
• Give accurate mileage estimations
• Drive a smaller van

Use a van insurance comparison site

The good news is that you’re already on one! Comparing quotes from dozens of van insurance providers puts you in a great position to make an informed choice about your cover.

Make your van more secure

Adding an approved alarm system, immobiliser and extra locks to your van can help reduce your insurance premiums if you declare them when getting a quote. Keeping your van in a secure area overnight, such as in a compound, a gated driveway or a garage, rather than parked on a public road, can also help keep your insurance costs down.

Increase your voluntary excess amount

Most insurance providers have a default excess amount set and in the event of a claim, you will have to pay this amount. You can usually add a voluntary excess to this, which means that the amount you need to pay in the event of a claim is higher; however, premiums are usually lower than they would be otherwise.

Build up a no claims bonus

For every year of van driving you do, under an insurance policy in your own name, during which you don’t make any van insurance claims, you build up a ‘no claims bonus’ which can be applied to the following year’s insurance quote. This will reduce premiums over time as you build up consecutive years of no claims bonus.

Add signage to your van

If your van is used for business, then adding signage to it can actually help reduce insurance premiums. This is because a van with your company’s livery on it is more identifiable and less likely to be stolen than a van with no distinguishing features.

Give accurate mileage estimates

The more mileage that a van does every year, the more chances of it being in an accident; so, for van drivers, making an accurate estimate of the miles you expect to cover in the next year is vital when you’re doing an insurance quote. It can make a real difference to insurance premiums. You need to be honest about the expected mileage and not purposefully underestimate the figure, but by keeping records of your previous year’s distance covered, you can make sure that you don’t vastly overestimate either.

Drive a smaller van

This tip isn’t going to work for everyone; but, for those who don’t often need to carry large loads it could well work out cheaper to drive a smaller van with a smaller engine, and then hire a larger van if you need to carry large or heavy loads from time to time. A smaller van can mean significantly smaller van insurance premiums for many drivers.