Commercial Van Insurance

For many companies, vans are central to the smooth running of their business. Whether you have just one vehicle or an entire fleet, it is essential to make sure that you get the right level of commercial van insurance to give you peace of mind that if a crisis were to arise, it would be business as usual.

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Make sure your van is legally insured

The introduction of new legislation last year made it a legal requirement to have insurance on a vehicle at all times, even if it is off the road and unused. Known as Continuous Insurance Enforcement, the only exception to the rule is if you have notified the DVLA and declared it off the road by means of a Statutory Off Road Notification (SORN). Penalties for not doing so are steep and not only will you receive a penalty of up to £1,000, you could also end up having your van seized and destroyed. This is the last thing a business dependent on their vehicles needs.

Obviously insurance can be costly and while you can’t control prices, you certainly can do your homework and make sure that you’re getting the best possible deal for your hard earned cash. And if you are a company with multiple vehicles, it is even more important to make sure you’re not missing out on potentially huge savings.

What levels of commercial van insurance are available?

There are three levels of cover available, and, as with most things, you get what you pay for. Don’t fall into the trap of thinking that cheapest commercial van insurance is best – while it might seem a good deal at first glance, there is no point having an insurance policy that won’t pay out when it’s needed. The three different levels are:

Third party commercial van insurance

This is the most basic and consequently the cheapest insurance on offer for commercial vans. It is also the minimum level of cover required for the vehicle to be legal. It will pay out for any damage or injury caused to a third party but you will have to fork out for any repairs or damage caused to your own vehicle.

Third party fire and theft

This level of cover will not only pay out for third parties if an accident were to occur but also if your van were to be a victim of fire or theft. Frequently, vans can contain expensive equipment and tools on board which could be very costly to replace so this is worth taking into consideration. This policy clearly will be slightly more expensive then basic third party but you’ll be thanking your lucky stars you paid that bit extra if the worse were to happen.

Comprehensive commercial van insurance

As well as all of the above, you’ll be covered against eventualities such as van damage, injury to the driver, and vandalism. Comprehensive policies come with a variety of extras as standard so it’s important to know exactly what it is that will be of value to you individually and then shop around. It might be that you want van breakdown cover included or to pay more voluntary excess to bring the cost of the premium down. Consider all your options to make sure you get the best policy for you and always check the small print.

Shopping around online and visiting a price comparison website such as MoneySupermarket will allow you to see a number of policies and decide which is best for you. Why not visit MoneySupermarket’s commercial van insurance comparison channel to compare quotes from 15 of the country’s leading providers.