With new and used van and commercial vehicle sales on the rise over the last number of years, more and more people are now looking for van/commercial vehicle insurance. Like private motor insurance, van insurance premiums are heavily based on risk.
The very simple rule of thumb for when you are getting van insurance is: Lower Risk = Lower Premium. In order to help you get the most out of your insurance for as low a cost as possible we have put together a quick guide of top tips to show you how and what you can do to help lower the cost of your van insurance premium.
The size of your commercial vehicle will impact the size of your insurance premium. For example, the smaller the van, the smaller the premium. This is because insurers don’t just take into account the person who owns the van but also the value, model and engine size of the van when calculating your insurance premium.
Depending on all the different factors involved, each van has a specific insurance risk placed against it. For example, a large van, with a big, high-powered engine will cost more to insure than a small little van with an engine half the size of the large van.
Before you purchase a van, you should sit down and work out what size van fits your needs best. There’s no point in getting a large van, which could add to your insurance costs, if you only need a small van to carry out your work.
Make Your Van Safe & Secure
For insurers, risk is the name of the game. In calculating your insurance premium, insurers look at many factors that contribute to or take away from the amount of risk of a claim being made. Making sure you secure your van and make it safe from the most common of claims will help in reducing your premium. For example a lot of insurers will look favourably at the following:
In most cases these days vans come with a pre-installed alarm system, however, it has never been a bad thing to upgrade it to something a little bit better. Alarms are great at stopping thieves from stealing your van and even the contents you may have within. This could include things like expensive equipment, tools or even the stereo. When you are talking to one of our specialists, make sure to let them know of any alarm upgrades you may have in place, as this can make a big dent your insurance premium.
Having an immobiliser fitted to your van ensures that if a thief manages to get around the alarm, they won’t be able to get very far. An immobiliser is a device that is fitted to the engine of your van that will not allow the ignition to work if your van has been broken into. This means there will be no chance of a quick getaway.
With the advent of cheaper and smaller GPS tracking systems, some that can even connect to your smartphone, being able to find your vehicle after it has been stolen has become easier. Having a GPS tracker installed in your van can mean that the likelihood of retrieving it after it has been stolen are greatly increased. Trackers mean you to see where the thief is heading with your stolen van. They will allow the Gardaí to follow the thief and eventually ‘track’ your van down for you. Let our specialists know if you have a tracker fitted, it could save you some money on your premium.
Keep Your Van Safe Overnight
How you keep your van overnight is another factor that could increase or reduce your insurance premium. If you just park it up at the side of the road, you may end up paying more than if you keep it parked in a garage or even in a secure place of work with monitored CCTV.
Owning & Driving A Commercial Vehicle
When looking for van insurance, most providers will insist that the person taking out a policy is also the registered owner of the van. If you are under 25, your insurance will cost more as you are deemed to have less experience of driving a commercial vehicle than an older person.
You should keep this in mind if you run a business which involves some of your employees driving vans. It may be wise to think about and choose which of your staff you want to have as named drivers on the policy.
Our van insurance team here at Insuremyvan.ie are all specialists in van insurance and are happy and willing to help get you the best van cover for the lowest price. Call us today on 01 660 6900 or fill out our van insurance quote form online and see how much you can save on your van insurance.
If you own a business that has vans out on the road, why not give our sister company a call and ask about additional discounts on your employer’s, public and product liability. You can call them on 01 660 6900 or you can visit Insuremyshop.ie.