A commercial vehicle – or a fleet of them – is among the most valuable assets in the warehouse and logistics industry. Which means van insurance is not only a legal requirement in the UK – it’s also good business sense.
Of course, that doesn’t mean you have to pay over the odds for your van insurance. Here’s everything you need to know about insuring your van – and finding the best quotes for that cover.
Start with the Fleet
Some commercial vehicles are more affordable to insure than others, so if you are serious about saving on your commercial vehicle insurance it would pay to do your homework and find vans that belong to lower insurance groups.
Electric vans are becoming increasingly popular, and the fact that they are less prone to mechanical faults could mean you might find them cheaper to insure, all else being equal. However, many electric vans still cost more to buy than petrol or diesel vans, and since the value of the vehicle will influence the insurance premium it’s possible that might offset any cost savings in the near term.
Insurance comparison sites aren’t just for consumers – many now compare business insurance quotes too. Quotezone, for instance, will allow you to compare van insurance quotes from more than 50 different insurance companies, increasing your odds of finding a good policy at a great price.
And speaking of comparisons, you should never accept your existing insurance provider’s renewal quote without shopping around first. It only takes a few minutes to compare quotes from multiple insurance companies, and doing so could save you hundreds or even thousands of pounds compared to the renewal quote.
Check the Coverage
One of the most important factors to consider when comparing commercial vehicle insurance is the cover provided by each policy. One policy may offer a lower premium but impose a much higher excess or a prohibitive range of exclusions, so it’s vital that you compare policy features not just prices.
Review Your Drivers
The employees driving your vans can affect the amount you pay for insurance too. Doing thorough screening, making sure that drivers know how to operate the vehicles safely, and maintaining a clean driving record are also things that can help you land better commercial vehicle insurance deals.
Adjust Your Excess
Agreeing to a higher excess can reduce the upfront cost of your commercial vehicle insurance, so it’s a step worth considering if you’re trying to shave as much as possible off your premium.
However, it’s important to bear in mind that this does mean you’ll have to cover a larger share of the liability yourself if one of your drivers is ever involved in an at-fault accident and you have to make a claim.