Van insurance policies are a real help to all the van drivers and the companies that are dependent on running of vans. As it is obligatory for all van owners to have an insurance policy for their vans, it makes sense to shop around not only for a cheap policy that will cover all the risks of your van, but also find ways in how you can reduce your van insurance premium.
Though there are many van insurance policies, there are a few ways by which we can reduce van insurance premium.
Having alarms for fire, theft will help. The locking system of the van is also a matter of concern. Single lock vans can be easily broken so have a multi lock feature in your van.
In a standard van insurance policy, the driving records of the van driver is checked before calculating the van insurance premium. But in case of any van any driver policy, young driver van insurance policy, the driving records of the van driver are also seen while settling claims.
If you have got no claims bonus on your car or any other van, you can transfer it at the time of getting a new van insurance policy. However, No claims bonus on another vehicle will not help while getting compensation if you make any claim.
Increasing your voluntary excess will reduce your premium to a great extent. Make sure the amount of compulsory excess that you will have to pay in your van insurance policy. Then depending on how much you will definitely be able to shell out at the time of claim, decide your voluntary excess. Only if you are very sure you would be able to compensate at the time of claim, take compulsory excess, else you would be in trouble. This is because your insurer will decide how much he should compensate only based on what your excess is.
Since most of the standard van insurance policies will include goods-in-transit, the insurers are specific about the type of goods that will be carried in the van. Toxic materials are not covered by most of the insurers due to the high risk.
Courier and haulage vans will need specific van insurance. Check with your insurer if he can cover your van to be used for business purposes occasionally. This way you won’t have to get two policies.