Is van insurance expensive?

Is Van Insurance Expensive?

Are you curious to find out if van insurance is expensive? If you’re new to van driving, or are a young or inexperienced driver, you might find that the cost of van insurance is higher than you expected. People often make the mistake of comparing the price of their car insurance policy to their van insurance policy. Although both are similar in the sense that they involve a vehicle on the road, they generally provide protection for the vehicle and the driver and both policies are compulsory, however, a car insurance policy and a van insurance policy are very different. In this blog, Insure My Van breakdown some of the myths about the cost of van insurance.  

Is van insurance expensive?

Factors that influence the cost of van insurance

Van insurance expenses will differ from policyholder to policyholder as there are lots of things that have an impact on the cost of van insurance, including: 

  • The age and experience of the driver
  • The make and model of van
  • The level of insurance required
  • What the van is used for
  • The location in which the driver lives and works

It is important to remember that like with any insurance policy, your van insurance premium will increase as the risk increases too.  


Comparing Van Insurance to Car Insurance

Car insurance and van insurance are often viewed as similar policies, however there are several differences that influence the difference in the cost. A van insurance policy typically provides more cover but also takes extras into consideration when calculating the premium, which we will discuss below. It is also worth noting that while cars are primarily used for independent travel and private use, vans are often used for a variety of business-related tasks that other vehicles cannot perform. 

van contents

Contents of the Vehicle  

In general, when looking for car insurance, there is not a great need to cover contents and belongings that are kept in the car, especially if you only use the car for social purposes. This is not the case when it comes to van insurance. Although we advise against it, many van drivers keep their tools and their business equipment and materials in their vans. People spend years accumulating their tools as they are quite expensive, therefore, it is recommended to include these items in your van insurance policy. This is an additional expense that most people do not require when taking out car insurance.  

van drivers

Fleet Policies

Any business that needs transportation for the delivery of their products or services usually provides access to cars or vans for their employees, and they require fleet insurance. With car fleet insurance, typically there is only one driver for each car and that driver’s name will be on the fleet insurance policy. But with van fleet insurance, it’s usual for multiple employees to drive the same van and swap vehicles depending on their work hours. As a result, the van insurance policy would have more named drivers and therefore, the risk is increased.  

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Specifications of the Vehicle

Both car and van insurers will consider the specifications of the vehicle when calculating the insurance premium. These specifications would include the make and model of the car, the engine size, and any modifications. Vans also come in different shapes and sizes, so these factors will also be considered in addition to the capacity of the vehicle. Clearly, larger vans in size with a greater capacity and a bigger engine are typically more expensive to insure than smaller vans. Smaller commercial vehicles, like Citroen Berlingo or VW Caddy are the cheapest vans to insure in Ireland.

Cheap Van Insurance

The best way to get the best van insurance quote on the market is to use a van insurance broker. As a leading van insurance broker in Ireland, Insure My Van have negotiated exceptionally cheap commercial insurance with underwriters.  We love to pass those savings on to our customers. Get in contact today for a fleet insurance quote!