Insuring your van may be one task on a long ‘to do’ list, but by investing a little time and effort into it, you could save yourself spending unnecessary money.
One of the UK’s largest specialist van insurance brokers, Gladiator, which acts on behalf of a panel of insurers, has come up with a list of tips that can help to reduce the cost of insurance.
- Mileage. If you can accurately predict your annual mileage, and the mileage radius in which your van will work, this will assure the correct mileage discounts which are available.
- Excess. Opt for an additional excess on your policy to bring the premium down.
- Mirrored bonus. If you own a car with no claims bonus on it, Gladiator can match this bonus initially when insuring your van.
- Affiliation. Join an organisation; members of professional occupational organisations gain discounts with many insurers. For example, the Federation of Master Builders, CORGI, or the Federation of Master Craftsmen.
- Security. Keep your van in the most secure area available; for example, private land, locked gates or in a garage. Also, including extra security on your van, such as an immobiliser, alarm, steering lock and wheel clamp, could gain you a discount with most insurers.
- Signage. Having your vehicle sign written can sometimes create a more professional approach and may earn you a discount on your insurance.
- Keep it small. Do not buy a bigger van than you actually need, as insurance companies will design the cost of a premium using the van’s engine size and the gross vehicle weight. So, if it’s too big for what you need, you will end up paying more for the insurance.
- Extra products. Always ask about other products available, as for example, having your public liability and tools cover with the same company can generate multi policy savings.
- Choose carefully. Instead of ringing around for quotes, to save time, try an insurance broker like Gladiator that acts on behalf of insurers. They might be able to offer specialist discount schemes and competitive rates.
Commenting on these tips, Gladiator managing director, Chris Price, said, "These tips show that there are many ways in which van owners can reduce the cost of their insurance premium. Many people are not aware of the factors that influence van insurance, and may not realise that simple changes may positively effect the cost."
Issue date: 15th November 2006 |
