Uncovering hidden aspects of your van insurance policy

We all know what the primary reason of our commercial vehicle is going to be when we purchase it, or them if you entertaining running a fleet of vans. However, many organisations use their vans for purposes other than collecting and delivering products for re-work or stock. It is important that your van insurance policy will provide you an umbrella when it decides to rain and you’ve walked out without your mackintosh, as is often the way.

And, unless you have a renewal date for your van insurance that coincides with an anniversary, it can be easily forgotten, especially if you have not noted in your calendar or personal organiser your renewal date. The advantage of logging the renewal date for your van insurance, other than not forgetting to obtain a new policy, is that you can add notes to the journal entry as the year goes by. If you do find that you are using your van for other purposes than originally perceived or have perhaps wished you’d named multiple drivers on the policy, make a physical note so you are armed next time.

In business, we never know what’s around the corner. The next big contract, expansion, sales meetings abroad – anything is possible. Compared with obtaining a cheap van insurance quote, these aspects obviously hold more sway in shaping the future of your business. In that regard, it can be an easy mistake to make to pick up the existing policy, with the annotations made during the course of the year scribbled on the envelope, and simply call your existing provider and get covered for the next year with the ancillary products tagged on.

van insurance is a two-way street

But what an opportunity that is you’re missing. Firstly, because you have not gauged the market to see what the competitors of your van insurance broker are offering. And secondly, as you well know having that entrepreneurial streak, no one likes to see a customer leave without having the chance to retain them.

Even if you do not eventually go with a new van insurance provider who may offer a cheaper renewal quote for a ‘like’ policy, your existing provider is more likely to offer you a reduction to retain your business if you have the documentary evidence that you can obtain said ‘like’ cover through another broker. Not only that, but also that one savvy act may be documented on your van insurer’s records, augmenting automatically cheaper renewal quotes in the future.

Of course, if they do not react, you are still a winner as you can ultimately decide to renew with the cheaper van insurance broker’s quote.

© 2018 All rights reserved. Reproduction in whole or in part without permission is prohibited. See our copyright notice.

Share your views

To leave a comment on this story, please insert your details below.