September 11, 2016 at 11:01 AM
Agreeing to pay a higher excess in the event of a claim can dramatically bring down the cost of your van insurance. In the event of a claim it will end up costing you more, but it’s an option worth considering.
Building up your no-claims bonus is a simple but effective way to bring down your premiums. Make sure you declare any no-claims bonus and see if you can use your car’s no-claims bonus on your van.
When you’re choosing insurance for your van, you’ll find that there’s a long list of optional extras. While these may benefit you in the event of a claim, read the small print to help you decide if they’re really worthwhile.
If it’s practical, make sure that expensive tools and other equipment aren’t left in your van overnight. Declaring an empty van can lower your premiums, as your vehicle will be less of a target for thieves.
Lower your premiums by making your van as secure as possible. Insurance companies will view your van as lower-risk if it’s difficult for people to break into or steal. Fit a tracker, immobiliser, or van alarm, and make sure you leave your van in a secure place overnight.
Paying upfront for a year of van insurance can save you significant amounts of money. Most insurers prefer having a lump sum, so they’ll offer a discount on annual premiums.
If you need to cancel your insurance at any point during the year, you can usually claim a partial refund based on how much time your policy has left (subject to a cancellation fee).
Premiums are generally lower for vans with smaller engines and vans with shorter wheelbases. Choose the smallest van that will meet your needs to lower your insurance premium.
Make sure you shop around before settling on an insurer – price comparison sites can help you save a lot of money. Compare regularly instead of automatically renewing your insurance to keep getting the best deal.
Additional drivers will always bring your premium up, but none more so than drivers who are under 25 years old or those with a claims history. If you’re looking to add another driver, try to find someone who affects your premiums too much.
Some insurers will offer discounts to members of relevant trade bodies such as the NICEIC, so it’s always worth checking with your insurer to see if you can benefit from any memberships you have.