When it comes to your next van insurance policy it can be tempting to just stick with your current provider, however this isn’t always going to be your cheapest option. It is important to shop around and compare quotes with your existing policy as well as talking to your current broker. There are a number of ways in which you can lower your premiums, so keep reading to find out more!
The first thing that you can do to lower your quote is shop around. The more quotes you compare the more likely you are to find a provider that will not only give you a great deal but also cover exactly what you need. It is important to remember that the cheapest option isn’t always the best and if you find a quote that seems to be too good to be true it probably is as some vital parts of the policy might be missing. Some policies will include insurance for your tools too so really look into what each policy is offering rather than just looking at prices.
Consider your Answers
When you are comparing or renewing your policy it is important you consider all elements of the quote form and don’t just choose the easiest answer. This is especially true when it comes to naming other drivers on your policy. Consider who will actually be using your vehicle rather than adding a couple of people who will probably never use it. This is because having additional drivers might actually increase your van insurance quotes rather than decrease them.
No Claims Bonus
If you are moving to another insurance broker or are just looking for quote then it is important to find out if you can transfer or mirror your current no claims bonus. If you can you should expect a discount of up to 65% but if not it might be wise to keep looking. It is possible for brokers to transfer no claims policies and for those that don’t, it isn’t even worth filling out the form. You also might be able to get the insurance broker to mirror the no claims bonus that you have built up with your car insurance policy and apply it to your van insurance quote.
Livery & Fittings
Having livery on the side of your van is not only beneficial for your business but for your insurance quotes too. This is because it makes the vehicle less tempting to steal as it is more distinguishable and if a thief wishes to sell the vehicle on it will be pretty hard to do so with someone else’s branding on the side! Not only this but it tells your insurance company that you are serious about your business which reduces their risk and therefore your policy quote.
Another thing that you can do is add useful fittings to the van such as shelves or racking. This is for the same reasons as having the livery on the side of your vehicle. A fitted vehicle is less likely to be stolen and it also tells the insurance broker that you are more likely to take better care of your vehicle.
Whilst you are filling out the quote forms you are asked to value your vehicle and it is important that you give a realistic answer. If you over-value your vehicle you are likely to be left out of pocket when it comes to getting your quote. This is because you are paying a price for a more expensive vehicle which is obviously going to increase your quote. There will also be insurers that won’t give you a quote if your vehicle is too expensive which means that you won’t be getting the best quotes around. If you under-value your vehicle you may find that when it comes to actually making a claim your insurance is invalid.
If you are still looking to reduce your insurance premiums then you can increase the amount of voluntary excess that you are willing to pay if you do have to claim. This in effect tells the broker how much of the claim that you are willing to share with them. However, it is important to remember that in the event of a claim you will be expected to pay the excess amount you agreed.
There are numerous ways in which you can lower you van insurance quotes, so make sure you shop around and don’t just compare prices.
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