This article is a guest post.
The main myths surrounding van insurance is that it is hugely expensive and not likely to cover everything you need. For a trader who needs to use a van, the requirement for proper, adequate insurance is as important as shop insurance to a shop keeper, professional indemnity insurance to anyone who might one day fall foul of a complaining customer and of course, public liability insurance which anyone in business must ensure they are properly covered for.
Like car insurance, your van can be covered comprehensively or for third party, fire and theft. For a van driver however, some of the extras offered by an insurance company such as guaranteed van hire in the event of an accident and legal protection can be attractive. Liability insurance and professional indemnity insurance can also have many optional extras and anyone purchasing shop insurance should be careful to ensure their stock is covered.
There are several little tricks that can really help reduce your van insurance premiums. One way is to look at the voluntary excess on the policy. Premiums can be lowered considerably just by opting for a higher excess. Any insurance provider who offers multi-vehicle discounts may be worth looking at as if your van is insured with the same company as your private vehicle, savings could be significant. If you are involved in an incident that has caused only minor damage to your vehicle, it may be much more cost effective in the long run to swallow the cost of the repair without making a claim on your policy. Have an alarm or immobilizer fitted. Premiums for a van will reduce if these devices are in place.
If you are considering buying a business vehicle, do not be blinded by big and flashy. Many businesses start out buying bigger vehicles they do not really need. Lower weight, smaller engine size and a whole host of other factors can really affect van insurance premiums.
Most important of all is to ensure that you have the right level of cover for your needs. Cheapest is not always best. One myth of insuring business vehicles is that everything in the vehicle is automatically covered. It can be painful to discover that in fact, tools left in a van are not covered. Being realistic about what you need in your policy is key. There is nothing worse than having paid the premiums to discover your policy will not pay out. This is also important with shop insurance and liability insurance policies.
Being honest with your insurer will pay dividends. There is an old saying ‘when in doubt, disclose’ in the insurance field and it is good advice. If you have not been 100% honest about any past incidences or convictions, you may well find the insurance company will refuse to pay out if an incident should occur.