There are several elements you may or may have not considered in an attempt to lower your van insurance, as all signs are pointing to another year of increases despite best efforts of the government to prevent it.
A link on the directgov site takes you to a hidden away page on the Internet that gives a list of the best ways to save money on vehicle insurance, as provided by the British Insurance Brokers Association – no wonder it’s hidden away, eh?
There is a pretty simple rule of thumb that most vehicle insurers set their stall by – the bigger the engine, the higher the van insurance premium. This is still very much the case.
For young drivers, one of the fastest ways to get cheap van insurance is to take the pass plus test. Experience may be lacking but a willingness and ability to learn to an above-average standard can amount to substantial savings on that first van insurance policy.
For the more established driver a history of no claims bonuses is an assured way of knocking money off your van insurance renewal. But don’t feel beholden to one broker – often van insurers will offer an introductory discount equivalent to any no claims in order to capture new business.
Not always practical for a company driver but if one owns a van for private use, limiting the mileage can help to lower van insurance quotes.
A direct insurer will only be able to draw from their own portfolio of products; a broker, on the otherhand, can compare insurers to get the best deal. A broker will also be able to advise which security features for your van are discounted by the insurer deemed as offering the best match for your budget or, more likely, what measures you have to take to qualify for those discounts.
If all other options have been considered or are impractical, there is always the option to forego comprehensive insurance and opt for third party, fire and theft, saving as much as 40% for a young driver.