Everyone knows that in the current economy, it can be incredibly expensive to take out a commercial van insurance policy, so how do you get your cover for cheaper?
Just as there’s not only one way to skin a cat, there’s no magic formula for getting cheap van insurance quotes. However, there are several things that you can do that will contribute to lower premuims – or that will lead to you getting better overall value for money than what potentially have right now.
Never take anything for granted
One of the best ways to get cheaper insurance, whether it be car insurance, van insurance, or any other type of financial product, is to shop around when it comes time to renewing your policy. The majority of insurers do not offer you very attractive renewal quotes, but far too many Brits simply auto-renew either through apathy or a misguided desire to express ‘loyalty’ to an insurance company. The same company that’s more than willing to sell you down the river if the price is right, so don’t fall into that trap!
In addition to not just going with your auto-renewal quote, you should also look through your existing policy quite carefully. Go through it with a fine-toothed comb and look for things that you really don’t ever need or use; if you can eliminate superfluous and extraneous portions of your policy, you’ll save money in the long run.
don’t sell yourself short
When looking for things to eliminate from your existing policy, you need to keep in mind that some extras are incredibly valuable. Having comprehensive cover, while more expensive, protects your vehicle not just from damage to third parties and instances of theft and fire, but also from damage done through a traffic collision – and damage sustained by the vehicle’s driver. If the same vehicle is involved in an incident without the proper cover, you could end up paying out of pocket for any repairs or medical bills!
Another money-saving strategy to think long and hard about is whether you should raise the voluntary excess, or the amount you agree to pay in the event of an accident, on your policy. Insurers reward customers who choose high voluntary excesses with discounts on their car and van insurance, which means that every year it’s much less expensive to insure the vehicle. The trade-off of course is that if you do indeed become involved in such an accident, you may find yourself in an unenviable position where you cannot pay your excess because you raised it to an unaffordable level – so make sure you don’t increase your excess past what you’re willing (and able) to pay!
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