Choosing the Right Van Insurance in the UK: Coverage Options and Factors to Consider

When seeking the best used van finance deals in UK markets for your particular vehicle and circumstances, it is important to do your research carefully and shop around. Choosing the most appropriate van insurance policy requires understanding your exact needs and managing your budget accordingly. Many varying factors play a role in determining the best cover for you and its associated cost. In this article, we will provide our favourite tips for choosing the best van insurance policy and outline some of the differences and additional types of coverage you may wish to consider incorporating.

Understand the different types of van insurance

There are 3 key types of van insurance available to most potential drivers, namely:

  • Third-party
  • Third-party fire and theft
  • Comprehensive

These are the same as those available for passenger vehicles and the details are easily researched, however, there are some additional cover options available you might not have been aware of, some of them specific to vans only, including:

  • Uninsured motorist
  • Tools left in the van
  • Personal accident
  • Windscreen
  • Breakdown
  • Legal costs
  • Driving overseas

Think carefully about which, if any, of these additional coverages could benefit you and your team. There is little point in adding overseas coverage if your vans never leave the UK but each set of circumstances will differ so do your homework and discuss the details with your potential insurer before handing over any money.

Factors affecting van insurance costs

Insurance companies will automatically ask you about and take certain factors into account when calculating any insurance quote, including:

  • The make/model/age of your van
  • Your business type and intended use
  • Driving history
  • Additional drivers, including age and gender
  • Location of use and parking

They will also enquire about and consider the following:

Parking and security

Insurance companies love to hear that your van will be parked in a secure location and preferably emptied of any valuable tools and equipment. Any security measures you can take, from after-market immobilisers to good old-fashioned chains and padlocks will not only appease your insurers somewhat but will actually deter thieves and protect your vehicle. Consider tracking devices that can help find your vehicle if it is stolen. This is another great way to reduce risk and insurance costs.

Non-standard vehicle modifications

Irrespective of the reason or sound logic behind making any after-market modifications to your vehicle, they will always push your insurance premium in the wrong direction. In the eyes of the insurers, modifications have the following effects:

  • Making repairs and replacements more expensive
  • Causing your vehicle to be more attractive to thieves
  • Increasing your risk of accidents and damage, especially in the case of performance enhancements

Think very carefully before making any modifications to your van, even going as far as to research insurance quotations with and without them beforehand to see the difference.

How to reduce your van insurance premium

  • Shop around

As with most modern purchases, it pays to shop around before making any rash decisions and the internet means this process could not be simpler. However, be aware that websites keep a record of the details you input and can raise the price when you return, hoping to squeeze some extra money out of you. If you decide you have made your choice, delete any cookies on your computer pertaining to the site in question and start afresh.

  • Increase your excess

Increasing the amount you are prepared to pay in the case of making a claim is one guaranteed way to reduce your premium. You need to balance the likelihood of claiming the amount saved and make an individual decision. If you run a fleet of vans making deliveries around busy cities and they are prone to small incidents and claims, it is not going to be worth your while to raise the excess.

  • Reduce your mileage

Less mileage leads to lower insurance premiums but beware of understating your average mileage. In the case of a claim, remember somebody is going to investigate and look for any way they can to deny payment. If you run a delivery service, it will not be difficult for them to prove you have vastly underestimated your mileage and you may be left hugely out of pocket.

  • Only select essential cover options
  • Pay annually if possible
  • Install a dashboard camera
  • Never allow your van insurance policy to auto-renew

Tips for choosing the best van insurance policy: conclusion

At the end of the day, choosing the right van insurance is a process that requires time, effort, and patience if you want to get the best results. It may seem all insurance companies are the same, but they’re not, and they need you more than you need them. Competition can be fierce in the cut-throat world of finance so be prepared to move on if you are not being offered the deal you think you should be.

If you are looking to insure a large number of vehicles, it may be a better use of your time to engage the services of a broker. Of course, this adds some additional cost to your overall amount but allows you to focus on the aspects of your business that bring money in and let professionals handle the tedious, complex job of insurance premiums.

Contact us

We hope these tips for choosing the best van insurance policy have been useful and given you some food for thought in the search for the perfect solution. If you have any questions or comments about our services here at Used Van Finance Deals, please get in touch today and one of our dedicated professionals will be happy to discuss them with you.