Saving money on van insurance involves considering several factors and shopping around, so let’s take a look.
Shop around for the best price
Obtain quotes from multiple insurance providers and look at what suits your requirements. Prices can vary, with shopping around allowing you to find the most competitive rates.
Use online comparison tools
Use online comparison tools to compare insurance policies. These platforms provide an overview of options; from there, you can read about what is covered and what is not. Opt for the policy that suits your business. While comprehensive coverage offers the highest protection, it may not be necessary for older or lower-value vans.
Build up your no-claims bonus
A no-claims bonus rewards you for not making a claim over a specified period; the longer you go without a claim, the higher your discount. This can significantly reduce your premium, which is beneficial.
Provide your estimated mileage for the insurer
If possible, provide an accurate estimate of your annual mileage. Lower mileage often leads to lower premiums, as there is less perceived risk of accidents.
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Look at increasing your excess
Agreeing to pay a higher voluntary excess can lower your insurance premium; however, make sure the excess amount is affordable in case you need to make a claim. Some people choose a high excess in the hope they will not have to use it.
Park in a secure location
Parking your van in a secure location, such as a garage or parking area, can reduce the risk of theft and may result in lower costs.