What is multi van insurance?
If you have more than one van, a multi van insurance policy or fleet cover allows you to insure several vans on the same policy. Each insurance company has different rules about how many vans you can have on one insurance policy, some allow hundreds whereas others may only allow two.
Insurers often provide multi van policies at a cheaper rate than if you were to insure each van separately, as a way of thanking customers for their loyalty.
As well as the possibility of saving you money, multi van policies can also save you a lot of time and effort.
The majority of multi van insurance policies allow any driver to drive the vans in your fleet. This allows flexibility, as you won't need to declare 'named drivers'. However, some will put limits to this clause, such as age. Some providers will not include drivers under 25 or over 70 in the insurance policy, and some may only insure drivers who have a clean licence.
Who needs multi van insurance?
It doesn't matter whether you have a van for business or personal use, anyone can take out multi van insurance. It can be very useful for businesses or private hire van fleets.
But remember that you still have the option to insure your vans individually and that can even sometimes be the cheaper option.
For example, if you need to insure a young driver on one of your vans then it could be cheaper to insure them on the one vehicle that they'll be driving rather than paying for them to be able to drive every van.
However, a multi van policy has other advantages besides just the price. It will save you time in the long run, as you will be able to renew all your vans at once, on the same date and at the same time, rather than having to do it multiple times throughout the year or make multiple arrangements. Overall, this makes your insurance admin work easier to manage.
That's why it's important to explore all your options when looking for multi van insurance so that you find a great deal for yourself.
Different types of multi van insurance quotes
As with a normal van insurance policy, there are three levels of cover you can pick from when taking out a multi van policy.
The three levels are Third Party Only, Third Party Fire and Theft, and Fully Comprehensive.
Third-Party Only insurance is the simplest, least extensive and legal minimum level of coverage you can buy. This basic level of insurance only covers third party costs e.g. injuries, damages to cars or property that are not your own. Your own vehicle's damage and your personal injury costs are not covered by this type of insurance.
Third-Party, Fire and Theft is a level up from Third Party Only. You are covered for the same as Third Party Only, but with the addition of coverage in the event that your van is stolen or damaged by fire.
Comprehensive insurance is the most extensive level of coverage that you can get. You are covered for everything that Third Party Only and Third Party, Fire and Theft do in addition to damages suffered to your own van and in certain cases where the accident was your fault.
The prices of each policy will likely vary from insurance company to insurance company. It is important to compare multi van insurance quotes to find the right deal for you.
Once you've decided what level of cover you need, you will have to pick which type of van insurance policy is most appropriate for you:
- Carriage of goods for hire and reward -- You carry multiple items to deliver over lots of small trips, e.g. a delivery driver
- Haulage -- You deliver one item or shipment over a long distance, e.g. a lorry driver
- Carriage of own goods -- You transport your own belongings e.g. a plumber transporting tools
If you use your van for both business and leisure, some companies will allow this. You must inform them of it when applying for insurance.
You should compare multi van insurance quotes on the basis of price and what each policy offers. Firstly, you need to consider what your needs are. For example, how many drivers will you have driving the vans and if you'll be able to get insurance for this amount of drivers? Or, what type of van does the insurance policy cover? You may also want to think about what extras you will need, such as breakdown cover, European cover or replacement parts.
How do I get cheap multi van insurance?
The make or model of your vans determines which insurance category they fall into and that, in turn, can have a major impact on your premium.
Who will be driving the vans will also affect the cost as less experienced and younger drivers or elderly drivers tend to have higher premiums as they are considered a higher risk. However, if you have a driver on the policy who has saved up no claims discounts, this will help reduce the price of the insurance for everyone involved.
If you are trying to lower your multi van insurance policy premium that it may be worth considering whether you really need the amount of vans that you have.
If you are trying to lower your multi van policy premium, it may be worth considering whether you really need the number of vans that you have. Do you use them all regularly or are they all necessary for your business?
If you're looking for multi van insurance quotes, then you can get quotes over the phone by calling 0330 022 6981.