Getting the Best Value for Your Van Insurance
Van insurance shares a number of characteristics with both car and home insurance. First and foremost though, it is legal requirement. Whilst this adds to the overall expense of ownership, it is an unavoidable by-product of using a van. But that doesn't mean that you have to spend more than is strictly necessary.
Let's return to those similarities with other forms of insurance first though. When you come to buy home insurance you often have the opportunity to get both buildings and contents cover. The same is true, to a certain extent, with van insurance. As not only can you insure the vehicle but also any expensive machinery, tools or other materials that you might carry and store regularly.
This won't be relevant to all van drivers, however if you are transporting items of value, making sure that they are properly insured can be just as important as covering the van itself. Obviously your site might have its own insurance or you may have already purchased special cover for certain items, but for added security this contents cover can be hugely beneficial.
Unfortunately, by including certain contents in with your insurance policy, you will have to pay a premium on top of the basic price. So in terms of getting the best price possible, this may not help; but when it comes to getting good overall value, it certainly shouldn't be overlooked.
The other thing that you need to cover of course is the vehicle itself. This part has more in common with buying car insurance, although with a few added considerations. As with car insurance you'll need to name all drivers of the van, so if you're sharing driving duties with others then be sure to add them to the policy.
You will also need to estimate annual mileage, define the purpose of use and state where it will be kept overnight (and possibly during the day too). Again, you need to be as accurate as possible with these details otherwise your policy may be invalidated, leaving you distinctly out of pocket in the event of a claim.
Obviously vans tend to get used in a wide range of environments, varying from muddy building sites to motorways. This is why there is no off the shelf van insurance solution and also why you will need to provide all details as requested. The more information you are able to give insurers, the better your chances of securing a comprehensive quote.
Equally, the more insurers you approach, the more you can save. Whilst it may very well be that the very first quote you receive is the cheapest, you will never know until you actually find out what the competition is like. This means doing a little online research.
Visit a few insurers' websites and maybe even take a look at one of the price comparison sites too. But don't automatically assume that the cheapest will offer the best value.
The value of insurance can't simply be determined by cost. You have to factor in exactly what the policy provides. For example Insurer A might cost 650 whilst Insurer B costs 670. If going on price alone, Insurer A is the obvious choice as they'll save you a fairly decent 20 - pretty straightforward. However, if Insurer B offers courtesy vehicle hire, windscreen cover and will also include contents up to a certain value whilst Insurer A doesn't, your 20 saving might not be as good as it first appeared.
This is why it is so important that you take the time to research not only the costs but what each policy includes. The Internet is certainly the best place to do this as you can perform numerous searches in a matter of minutes, plus you also may benefit from special online discounts.
Then all you need to do is choose a reputable insurer, pay your premium and you'll be fully insured for another year with nothing to worry about until your renewal notice comes through. It might sound like a lot of effort, but if getting value for money is important to you, putting in a couple of hours of work shouldn't be too much of an inconvenience.
Let's return to those similarities with other forms of insurance first though. When you come to buy home insurance you often have the opportunity to get both buildings and contents cover. The same is true, to a certain extent, with van insurance. As not only can you insure the vehicle but also any expensive machinery, tools or other materials that you might carry and store regularly.
This won't be relevant to all van drivers, however if you are transporting items of value, making sure that they are properly insured can be just as important as covering the van itself. Obviously your site might have its own insurance or you may have already purchased special cover for certain items, but for added security this contents cover can be hugely beneficial.
Unfortunately, by including certain contents in with your insurance policy, you will have to pay a premium on top of the basic price. So in terms of getting the best price possible, this may not help; but when it comes to getting good overall value, it certainly shouldn't be overlooked.
The other thing that you need to cover of course is the vehicle itself. This part has more in common with buying car insurance, although with a few added considerations. As with car insurance you'll need to name all drivers of the van, so if you're sharing driving duties with others then be sure to add them to the policy.
You will also need to estimate annual mileage, define the purpose of use and state where it will be kept overnight (and possibly during the day too). Again, you need to be as accurate as possible with these details otherwise your policy may be invalidated, leaving you distinctly out of pocket in the event of a claim.
Obviously vans tend to get used in a wide range of environments, varying from muddy building sites to motorways. This is why there is no off the shelf van insurance solution and also why you will need to provide all details as requested. The more information you are able to give insurers, the better your chances of securing a comprehensive quote.
Equally, the more insurers you approach, the more you can save. Whilst it may very well be that the very first quote you receive is the cheapest, you will never know until you actually find out what the competition is like. This means doing a little online research.
Visit a few insurers' websites and maybe even take a look at one of the price comparison sites too. But don't automatically assume that the cheapest will offer the best value.
The value of insurance can't simply be determined by cost. You have to factor in exactly what the policy provides. For example Insurer A might cost 650 whilst Insurer B costs 670. If going on price alone, Insurer A is the obvious choice as they'll save you a fairly decent 20 - pretty straightforward. However, if Insurer B offers courtesy vehicle hire, windscreen cover and will also include contents up to a certain value whilst Insurer A doesn't, your 20 saving might not be as good as it first appeared.
This is why it is so important that you take the time to research not only the costs but what each policy includes. The Internet is certainly the best place to do this as you can perform numerous searches in a matter of minutes, plus you also may benefit from special online discounts.
Then all you need to do is choose a reputable insurer, pay your premium and you'll be fully insured for another year with nothing to worry about until your renewal notice comes through. It might sound like a lot of effort, but if getting value for money is important to you, putting in a couple of hours of work shouldn't be too much of an inconvenience.
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