There are aspects of your van insurance that you don’t maybe see, yet still affect the price of your renewal policy. You could be being judged on points of your character that you wouldn’t usually expect to show up when enquiring for a cheap van insurance quote as brokers look to cover every angle when offering existing or new customers quotes.
Like them, you have to look at van insurance from every angle – and you’d be surprised by how many facets there are that you may not consider but insurers do. Let’s face it, with the rise and rise of van insurance premiums, the brokers have to have evidence to support the continual increments.
Speak to your existing van insurance provider
If you are planning to upgrade your truck or van, it’s worth talking to your insurance provider to see exactly what increase you’d be looking at by indulging in this step up a class of commercial vehicle.
If you have to stretch you finances to a new van because it has a bigger engine or greater load capacity, you may be shocked by the jump in van insurance premium you’re expected to pay.
The rule of thumb, with most commercial vehicle insurance providers, is the larger the van, the bigger the premium. There are many reasons, but those in the main are
a) smaller vans are easier to manouvre, hence involved in fewer minor incidents, and
b) larger vans, due to their value and ability to carry more volumous loads, are greater targets for thieves.
Bundle your home and van insurance together
For the sole trader or small partnership, it can be a cost-saving exercise to combine another policy, such as your buildings and contents or a liability insurance, with the same insurance provider.
You may well get extra discount if you dangle the carrot of multiple policies with one broker.
Does your credit rating reflect the true you
One aspest that a small business or individual may not consider as affecting their van insurance premium is their credit report.
Some, but not all, van insurance providers can take your credit rating into account when you are looking for cheap van insurance quotes.
The fact that you’re an excellent driver with a long history of no claims may count for nothing if the insurance broker takes a dim view of your financial history and sees that as a liability, especially if you’re spreading the cost of your installments with them.
More key factors into ‘Research for cheap van insurance‘ concluded in the follow-up article…