Top tips for getting cheaper van insurance

From choosing the right van to adjusting your voluntary excess, we can help put you on the right road to getting a better deal on your van insurance – here’s our guide to how.

From choosing the right van to adjusting your voluntary excess, we can help put you on the right road to getting a better deal on your van insurance – here’s our guide to how.

Daniel Hutson
From the Motor team
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Posted 4 OCTOBER 2019

Choose the size of your van wisely

If you’re the owner of a light goods vehicle or van, it's worth knowing that when it comes to insurance size definitely matters. Vans now make up 10% of all licensed vehicles in the UK – as of the end of March 2018.

The larger or more powerful your van, the more expensive it will probably be to insure. There’s no point in having a van that could transport a football team if you’re a children’s entertainer with a ventriloquist’s dummy, a rabbit and some magic wands. And it definitely isn’t going to do you any favours from a cost perspective, from the price of fuel to insurance and everything in between. So, if you’re considering buying a van, or changing yours, then think about whether you can manage with a smaller van.

Increase your voluntary excess

Increasing your voluntary excess could reduce your premiums. But be warned, if you make a claim, you’ll have to pay that excess combined with the compulsory excess, so think carefully about whether or not this makes financial sense for you in the long-term.

Install extra security

Fitting an approved security system or an immobiliser could save you money. It might also be worth adding a tracker. If your van does go missing, then at least you stand a good chance of getting it back. Better still, if you’re able to park your van somewhere safe when it’s not being used, such as a driveway or secured garage, then that might also be a step closer to getting a better deal. 

There’s been a marked increase in van-related theft in the UK since the start of 2018, with many criminals targeting tools and equipment stored in vans. In fact, a van is broken into every 23 minutes in the UK, according to police figures. And in the past  year there’s been a 30% spike in tool theft, with most of the resultant insurance claims being made by tradesmen based in London, Bristol and Sheffield. Never has there been a better time to invest in a decent alarm system – and a good van insurance policy. 

Claim your no claims

If you’re not a first-time van insurance-seeker, it’s good to know that you may be rewarded with lower premiums if you’ve never needed to make a claim before. Different insurance providers take different attitudes to a no claims history. Some providers may be willing to count your experience, while others will start any no claims discounts from scratch. Just remember, if you also have a car, you can't use your no claims discount on two vehicles at once. 

Needless to say, you need to continue to be a good driver in order to keep your premiums as low as possible – points for speeding and poor driving can affect your premium.

If you don’t have a no claims bonus on your car or van insurance, or if this is the first time you’re investing in van insurance, you can build up your no claims on your van after a year, so you may see some rewards when it comes to your insurance renewal time.

Pay annually

If you can afford it, a quick and easy way that could reduce your van insurance is to pay your full insurance premium up-front each year. You may be charged interest if you pay monthly.

Be honest and be accurate

Be upfront about what you’re using your van for. Missing important information will be to your detriment if you need to make a claim. You should also try to be as accurate as possible when declaring your mileage. Rounding up might be the easy option, but it could push you up the pricing scale.

Carefully consider your named drivers

You might be a great driver with a clean licence, but what about someone else who you might want to add as a named driver? Drivers with points and young drivers under 25 will push up your premium.

On the other hand, adding another named driver (although they must actually drive your van) with a decent driving history and a clean driving licence may reduce your premium. 

Compare van insurance quotes

Probably the most straightforward way for you to find the right van insurance is to compare quotes from different insurance providers.

Just remember that cheap van insurance isn’t always the most ideal insurance. Think about what level of cover you need, as well as any additional extras like breakdown cover. Not getting the right level of cover could be potentially more expensive in the long term, if something happens and you need to make a claim but find you’re not covered by your insurance. 

So why not start today by using our van insurance comparison service to see if you can find the right insurance for you and your van? It’ll be another job well done.

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