If it’s just you, no problem. But you may want others to be insured for a van. Anyone under 25 or with motoring convictions will bump up the premium. If you need to insure a younger driver or one with past convictions, get quotes from an insurer who specialises in that category of driver. If you have a few vans to insure, get quotes for fleet-wide cover. This is usually cheaper than insuring each business van individually.
Every policy has an excess. If it’s a £200 excess, you’ll pay the first £200 of any claim you make. Increasing your excess will reduce the premium. But it’ll also mean you’ll pay more if you claim. It’s a balancing act. Only you will know the right balance between risk and reward here.
Insurers will give you a discount for a claim-free history. Typically, you’ll save 30% with a year’s no-claims bonus and it’ll rise each year until it’s capped at, typically, 65%. Some insurers offer protected no-claims, which makes you less likely to lose this valuable discount. Worth having. If you have a small mishap, work out if it’s cheaper to claim or sort it yourself and keep your no-claims discount.
Don’t pay for what you don’t need. Insurers sometimes bundle breakdown cover in with your insurance. Great if you need breakdown cover. But if you’ve already got breakdown cover, why pay for it twice? Likewise, cover while abroad. Will you need it? If so, get it. If not, don’t.
Alarms, immobilisers, security locks – these can all help cut your premium. Aftermarket fitments will need to be recognised and approved by insurers. Research body Thatcham tests and rates security devices for insurers.
Some insurers will reduce your premium by 5% if your business van has signwriting or a wrap. Why? Because people who wrap their vans tend to take more care of them and so make fewer claims.