Over-50s van insurance

Statistics show that older drivers are, on the whole, less likely to be involved in accidents compared to younger drivers with less experience, and will therefore need to make fewer costly claims on their insurance.

This trend can reverse with significantly older drivers who often find their reaction times slow down and their joints might stiffen, which can lead to an increase in accidents.

An insurance provider may offer a lower premium to an experienced van driver, but only if their past driving history shows them to be a good driver. Regardless of age, a driver with multiple motoring convictions or insurance claims is likely to pay more than somebody with a clean licence and many years of no-claims bonus.

The amount you pay for van insurance will depend on a range of other factors including (but not limited to) how much you drive, your job, your vehicle’s size, where you live and even where you park.

When looking for any type of van insurance policy, you’ll need to decide on the level of cover you need. As with car insurance, there are three levels of cover for vans.

• Third party: This is the minimum cover you’ll need to drive legally. It could meet the cost of damage you cause to another person, or their property, as a result of your driving. But it won’t pay out for repairs to your own vehicle.

• Third party, fire and theft: In addition to third party cover, this type of insurance could pay out if your vehicle is damaged or destroyed by fire, or if your van’s stolen.

• Comprehensive: This covers everything in third party, fire and theft, plus any other damage that’s done to your vehicle (regardless of whether or not it was your fault). It’s not always the case that comprehensive is the most expensive option, so it’s worth getting a van insurance quote to compare your options.

Your van insurance will also protect items that belong to you that are carried in the van, and this cover can be extended to include items that you are paid to.

• Increase your van’s security – keeping your van somewhere secure overnight and investing in an industry-approved alarm system, immobiliser or tracker could help to cut your premium. Always take sensible precautions, for example don’t leave items on view in your van while it’s parked.

• Reduce your mileage – all van insurance providers will ask for an annual mileage figure, so set this as low as you realistically can. Make sure you’re as accurate as possible, as underestimating your mileage means your policy could be invalidated if you have to make a claim.

• Change your voluntary excess – increasing your voluntary excess could mean a cheaper premium. Just make sure you can pay both the compulsory excess set by your provider and your chosen voluntary excess in the event you need to make a claim.

• Pay annually – paying for your annual insurance all at once could save you money. Spreading the cost over a monthly instalment plan could cost more as you may be charged interest.

Finally, don’t just buy on price alone – be sure to get a policy that gives you all the cover you need.