If you own a small van and use it for business purposes you are legally obliged to insure it. In any event, it would be sensible to take out such insurance in case anything untoward happens with the van such as being in an accident so that the majority of any repair work is paid for by the insurance company.
Fortunately, insurance is quick and simple to arrange and there are several companies offering small van insurance. However, it is important that you select a policy that will meet your requirements at an affordable premium.
When considering this type of cover you should be aware of the factors that can affect the cost of small van insurance. Cash flow for many business owners here in the UK can be critical so any way that you can contain or reduce your business’s expenditure has got to be welcomed.
How Is The Premium Worked Out?
There are a number of factors that could affect the premium that you would pay such as the age of the driver(s), how many drivers will be insured to drive the vehicle, their driving history (do they have any points on their driving license(s)?), the make and model of the small van, how many business miles will the van do each year, what security devices have been fitted to the vehicle, where will the van be parked overnight, what the van is to be used for and what level of cover is required.
What Choices Of Cover Are There?
You have three choices.
- The first thing to be aware of is that, by law, at very least, you must take out third party cover. However, this level of insurance only provides cover for any other vehicle, people or property that is damaged in an accident – it does not provide any cover for your own van.
- Third party, fire and theft covers everything mentioned above under third party insurance but also provides cover for your own van should it be stolen or damaged in a fire.
- Fully comprehensive van insurance provides cover for what has previously been mentioned above but also covers your van should it be involved in an accident even if that accident is your fault.
There are also some optional extras. For instance, you could consider arranging breakdown cover to try to get your van back on the road after a mechanical failure as quickly as possible so that your business is not affected.
To see how competitively priced Small Van Insurance is why not compare some quotes via ourselves.