Van insurance news roundup: 7 days ending 16 sept 2012:
If you don’t think you need more than third party cover on your van or commercial vehicle, you might want to reconsider that after this week’s news stories.
Is your van of choice a Ford Transit? If so, you’re at heightened risk for losing everything if you just have third party van insurance, because it was revealed this week that one out of every four vans nicked in the UK is a Transit, according to official figures.
Ford Transits weren’t just stolen 25 per cent of the time when it comes to light commercial vehicles; they were also the vehicles stolen most often. No other commercial vehicle is stolen more, though the second-most nicked van, the Mercedes Sprinter, was pinched 21 per cent of the time, indicating that commercial vehicle thieves might have a taste for the Mercedes brand as well.
Honestly you can’t be surprised that the Transit is made off with the most often, considering it’s been the reigning champion as far as sales in Europe for something like four decades despite is bloody awful looks. No one’s stealing the Transit because they’re keen on its looks, though – the demand for parts on a van as ubiquitous as a Transit is always high and can fetch a pretty penny for criminals.
However, it’s very surprising to consider that so many people try to save cash on their commercial van insurance by simply taking out third party cover instead of a comprehensive policy. If you are one of the ‘lucky’ ones who’s tasked with managing a fleet of Transits, at the very least you should ensure that you’ve taken out third party fire and theft cover in order to ensure you’ve got protection against such a high incidence rate of theft.
Ideally you should have comprehensive cover on any commercial vehicle that you use for work, but we understand: times are tough, and you might not have the budget for a shedload of comprehensive policies for a large fleet. However, this can be the worst kind of false economy if something untoward happens that’s not covered under your cut-rate policy and your firm ends up paying out of pocket – it could be absolutely catastrophic and ruinous.
Do yourself – and your firm’s bottom line – a favour and take out the most comprehensive cover you can afford. And for pity’s sake don’t insure a Ford Transit with anything less than third party fire and theft!