A Guide to Commercial Van Insurance

Vans are essential to many businesses around the UK. They enable business owners to visit clients and transport their equipment quickly and easily. Whether a business has a large fleet of vehicles or just one small van, commercial van insurance is a must. Van insurance gives business owners peace of mind that, should their van be involved in an accident, their livelihood won’t be affected.

A Legal Requirement

The law states that a vehicle must have insurance on it at all times, even if it’s unused. The penalties for not being insured can be incredibly high, which could put a huge strain on businesses. Uninsured vans could also be seized and destroyed, which could potentially bring businesses to a close.

Levels of Van Insurance

There are three levels of van insurance with different costs and level of cover. They are: third party only; third party fire and theft and comprehensive. Third party insurance only offers the most basic cover and will not provide cover for you vehicle in the event of theft, fire or accidental damage. Comprehensive cover will pay out for damage to your own vehicle following an accident, and vandalism. Comprehensive cover is generally recommended for business owners.

Lowering the Cost

Nowadays, businesses are faced with increasing costs, particularly when it comes to motoring. Although the cost of van insurance can be high, it is a necessity for any business with a vehicle. In spite of this, it is possible for businesses to get cheap van insurance. Businesses may be able to lower their insurance premiums by increasing their voluntary excess or by adding security devices to their vehicle.

Always remember when arranging your commercial van insurance, it is important you provide accurate information to ensure any claim you may need to make will be paid for as incorrect information may result in a claim being refused.