Van Insurance
May 30th, 2009. Published under Business. No Comments.
How many vans are to be covered in the policy 2. The weight of the van (s) 3. The make and model of the van (s) 4. Your geographical location 5. The age and experience of the van drivers 6. Whether or not the van drivers are named (or an ‘any driver’ van insurance policy is required) 7. The security of the van(s) – e.g. whether alarms, immobilisers or trackers are installed 8. Claim history 9. What the van will be used for 10. The excess
It is really important that you obtain appropriate insurance cover for your van(s); rather than simply going for the cheapest quote you can find. Broadly speaking van insurance policies can be split into two distinct categories:
Before getting your van insurance always check whether you need a comprehensive coverage or only the basic legally required plus a bit more. If you have already van, comprehensive may cost you more than the van’s worth. Generally, if your van is worth less than 10 times a six-month comprehensive insurance premium payment, you don’t need comprehensive coverage.
If you choose van insurance for non-commercial use of a van, make sure you only use the van for non-commercial uses. In some case van insurance can bring with it some good benefits for you and your van. One most important advantage is the availability of another van in case your van has been badly damaged. This advantage is important in view of business owners whose business is at risk just because of delay in delivery of goods.
Having a 100% All Risks cover included within the Goods In Transit option will provide cover should the goods be stolen or damaged while they are in transit and cover should the goods be damaged which is caused by an accident while they are in transit.
Now, An important thing is how to avail a cheap van insurance program. Some methods to lower down the premium of van insurance. (I) If you are a good driver, then you can increase your deductible amount in order to lower down your premium.
If you are using your van to transport expensive goods, materials, tools etc; this may well be an option worth considering. Imagine the potential impact on your business if a large quantity of stock was destroyed as a result of an accident, or stolen as the vehicle was en-route to a job? Would you be able to afford to replace it? If you include goods in transit cover on your policy, your van insurance would pay out in a situation like this.
If your van is damaged as a result of an accident, you may need a replacement van in order to continue to do business – again as the cost to rent vehicles can be high, it may be worth having this included on your van insurance policy.