You may have thought you have done all of your homework before hitting the Internet in your quest for cheap van insurance; as well as the not so obvious points covered in the article ‘Research is the key to cheap van insurance‘, we conclude with a further two aspects that, if observed, may put a few quid back to your bottom line and not into the coffers of your van insurance broker.
high insurance vs lack of long term commitment
Leasing your van has two sides to the coin when it comes to juggling your finances.
Sure, if you know you only want to hire a van for a specific purpose, this is the way to go; your lease-hire agent will include basic elements of van insurance within the price of rental, but do take the time out to check that the cover they’re offering is suitable for the job you intend to use the van for.
Van insurance on a rented commercial vehicle can be expensive when compared to a longer-term policy, even a nominal 28-day cover plan.
Obviously, offset against the higher premium is the lack of capital outlay for purchasing the van outright. However, as many companies are still living month-to-month under the current financial constraints, leasing can seem a very attractive proposition, especially if you have other stakeholders’ interests in the business to consider.
One extra-special warning – there have been incidents where van drivers, having hired a vehicle and taken out its subsequent van insurance policy, have been involved in an RTA only to find that the vehicle hire firm where not registered insurance brokers. When planning to hire a van short-term, check out their insurance registration criteria first, either online or ask to see their current certification if you are on the premises carrying out the transaction.
Academic history included in van insurance quote criteria
This last point is perhaps more applicable to those fresh out of college and in the quest for cheap van insurance for young drivers. If you have achieved grades above the norm in your collegiate days, this can have an affect on your final van insurance quote.
The theory is simple enough – if a broker sees that you have the ability and discipline to learn and retain information in the classroom, there is more of a likelihood that you will carry that ability forward into your career. Better students often make for better drivers and are less prone to breaking the rules and some van insurers will take this fact into account for the younger driver.
There are many other hidden aspects of van insurance that we have covered here on cheapvaninsurance.co.uk.
The absolute bottom line when searching for cheap van insurance is to do your homework, compare relative sites and arm yourself with as much evidence to support your right to cheap commercial vehicle cover as possible before approaching your broker.