Before hitting the road for your next trip, you need to have van insurance. It’s a legal requirement. To get a quote, your insurer will take several factors into account – no different to when you purchase car insurance.
We’re here to help you understand how much your policy is likely to cost, how costs are broken down and how they’re calculated to give you your annual premium. We’ve also added a few tips on how to get a cheaper van insurance premium, to help you protect your van for the right price.
Your van insurance premium is calculated by looking at:
We’ve broken down the different options and the personal factors that affect the cost of your cover to help you make an informed choice when you buy or renew.
You’ll usually find 3 main policies to choose from:
This is the minimum legal cover. A Third Party policy protects against the costs incurred if you damage another vehicle, person or their property due to your driving. It doesn’t cover you for any damage caused to your van, subsequent repairs or medical expenses.
This type of policy covers everything included in Third Party cover but also protects you from fire damage or if your van is stolen. However, it won’t cover you for repairs after an accident.
A Fully Comprehensive policy covers everything above alongside paying for repairs after an accident. It’s the full insurance package and gives you the highest level of cover. It’s vital if you’re driving long distances or use your van often.
Once the insurer knows what cover you’re choosing, they’ll calculate your quote by looking at several other factors, including:
There are many different types of cover available, making it difficult to know which insurance you need . The right one for you will depend on what you’re using your van for.
If you’re using a van as a little run-around during the week, your mileage is likely to be low. This means you’re likely to get a cheaper policy because of your limited time on the road.
If you want a van to take on family holidays, fit in all the kids’ bikes, or simply make your next road trip a little more comfortable, getting a policy that has breakdown cover is crucial, especially if you have a high annual mileage.
Chances are you’re going to be covering considerable distances and heading into more rural areas. Knowing you can get roadside assistance whenever you need it, can help give you peace of mind on those long journeys.
If you’re a van enthusiast and want to take your pride and joy for a spin on weekends away, then declare this to your insurer so your policy includes this.
Whether you’re a hobbyist or roadtripper, you should consider whether you need additional cover to fully insure your van. These can be chosen after you’ve received your initial quote and can be tailored to suit your needs.
Examples of extra cover options include:
Some insurers might also offer personal belongings cover either as an optional extra or as standard. LV= provide £300 for personal belongings cover as standard, but this doesn't cover business tools or equipment.
Check out any policy documents if you want to know more about a possible policy. That way you’ll be able to understand your premium cost a little better and try to tailor it according to your needs and budget.
Other ways to get budget van insurance include:
At LV=, we provide van insurance for a host of different drivers, covering you while you’re on the road. Get a quote online today.
This article contains links to other sites, and we're not responsible for the contents of any of these websites.