Reducing the cost of your van insurance is of course in the interests of any company or individual employing the use of a van – especially for those businesses that revolve around the use of vans, such as delivery companies. There are a number of methods available for lowering the cost of a van insurance quote, steps that any company or individual can take to get a better price and save money. Getting your insurance quote lowered depends on a number of factors, which if addressed correctly can save you a significant amount of money. Taking measures to address one factor may seem like a lot of hassle for a small gain, but when each factor is issued collectively the aggregate gains can be significant.
What factors affect my claim?
Some factors depend on the qualities of the actual van itself, whereas others depend on the driver and the circumstances of your usage of the van.
Van dependant factors
– All vans are ranked between 1 and 20 by the Association of British Insurers, 1 being lowest risk and 20 being highest risk. The rank your van receives is based on the weight and size of the van, as larger and heavier vans are going to cost your insurer a lot more to repair as well as being more difficult to drive, increasing the likelihood of an accident.
– Whether your van is equipped with any security devices
Driver dependent factors
– Age of driver, with younger drivers paying more as is usual with all motor vehicles
– Whether there are to be additional/multiple drivers of the van
– Gender of driver
– Your driving history (including years of no-claims)
Circumstance dependent factors
– Where the van will be parked overnight
– An estimated annual mileage (a lot for delivery companies)
All these factors play some part in determining the cost of your van insurance, so by addressing each one effectively you can vastly reduce the amount you will pay. It is worth researching a number of insurance providers to find the right deal, as some place more importance in certain factors than others. If you are a young driver, choosing an insurer that is inclined to charge high rates for younger drivers would not be wise. Similarly, some insurers may be less keen to offer lower rates of insurance to drivers who expect to clock up a high annual mileage. If you are a large company it is even possible to hire an expert in the area to find the best deal for you. Businesses employing the use of a huge number of vans are especially advised to consider this option.