Van insurance can be as cheap as you want to make it, but many traders, in their attempt to cut costs, can often leave themselves exposed by not having adequate cover in the event of an accident. As well as negating the point of having van insurance at all, it can also have dire consequences on the individual’s livelihood in the event of a claim against them.
As well as providing cover for third party only or ‘and theft’, it is imperative that a sole trader has made sure that their van insurance quotes incorporate some type of liability insurance within the policy somewhere.
The level of cover for this aspect of your van insurance will depend upon the nature of your business and how much your driving brings you in contact with the general public and how ‘at risk’ you perceive your business activities make you. Admittedly, the higher the value of liability you ensure your van for will add to your initial cheap van insurance quotation, but it is worth that little bit more for the peace of mind.
If you are using a van insurance comparison site, they are often excellent ways of factoring in this extra cover. But you will need to know what to look out for when you’re building in the aspects applicable to your business when you’re constructing your van insurance quote online.
Tradesmen’s liability is probably the one you’ll want to be looking out for as it incorporates both employer’s and public liability in one fell swoop, which in their own rite cover the tradesman for £5M and £1M as minimum legal requirements, respectively. This will then extend the van owner’s cover to staff, customers and anyone with whom ‘the business’ comes into contact with during the course of its day-to-day activities.
If your trade is purely as a driver for a larger organisation and you are an employee, it is highly probable that the firm for who you work will have built this cover into their fleet van insurance and you should not have to worry about insuring yourself over and above the level whilst carrying out activities on behalf of the company.
However, if the company has deigned that employees can utilise their commercial vehicles for personal use outside of working hours, it is critical that you confirm what level of van insurance is applicable to their benevolence and who is liable in case of any incident.
If you are dealing with a van insurance broker rather than with a specialist cover provider direct, it is possible that you will be able to get even cheaper van insurance by taking out more than one type of insurance with them, as long as they are licensed to provide a variety of policies, accordingly.