UK law requires that all vehicles on the road are covered by auto insurance. Insurance companies can help alleviate the financial consequences of a collision, so it is important to make sure you get the best deal with as much coverage as possible. These van insurance tips can help you reduce your annual premiums.
Factors to ConsiderThere are many factors that will determine the rates for your company van policy. Rates are usually based on the risk that a certain van or driver is deemed to have; for example, a van or driver that has been in multiple accidents will be more expensive to insure. While cheaper vans with smaller engines are less expensive to cover, it is important not to compromise price for safety.
Van Safety and SecurityTaking extra measures to protect your van will result in lower annual premiums. This means that you will need to keep your van in tip-top shape to prevent any accidents that occur from lack of maintenance. For example, your tires? pressure and treads should be checked regularly, as blowouts are a very common cause of accidents. As far as security is concerned, you can install an alarm, tracker, or immobilizer. For additional insurance savings as well as security, you can park your van in a garage at night instead of on a road.
Planning Out Your Van's PolicyOne of the most basic ways to cut down on your company van insurance premium is to increase the excess, or the amount that you will pay in the event of an accident. In a non-fault claim, legal assistance can help you to recover the excess for which you are initially responsible.
Another money-saving measure is to limit the number of people who drive the van. Any driver policies are more expensive than including additional drivers individually on your policy, so it is recommended that you only cover people who drive the company van on a regular basis.
Overall, the safer and more efficient the van, the lower the annual premiums will be. Keeping the above guidelines in mind can help you to save on van insurance for your company vehicle.