Reducing your van insurance premium
There are several ways you may be able to reduce the cost of your van insurance premium - without compromising the level of cover.
Choose your van carefully
Choose a vehicle that meets but does not exceed your business needs in terms of its weight, size and performance, because smaller vans enjoy lower premiums.
The majority of vans are placed in an insurance grouping based on an assessment of the level of associated risk they pose for the insurer – so, for example, a large, powerful van with a big engine and a high value will obviously be classed as more risky (and therefore more expensive to insure) than a smaller, lower value van.
You will also find that privately imported or modified vans come with a higher insurance premium, generally because parts are more expensive to replace.
Increase your van's security
If you can boost your van's security and lower the risk of it being broken into or stolen, you will often be given a discount.
Security devices such as alarms, trackers and immobilisers will all help to protect your van and potentially lower your premium – but make sure that the devices you choose to fit are approved by your insurance provider.
An alarm is obviously a major deterrent for thieves, protecting your van and its contents, while an immobiliser doesn't prevent a break-in but does stop the vehicle from being started until the immobiliser has been deactivated – preventing thieves from driving it away.
Tracker devices enable the police to trace your van's location if it is stolen, giving you a much greater chance of getting it back – and many insurers will offer a lower premium if your vehicle is fitted with one.
Find secure overnight parking
If you can keep your van in a secure overnight location – in a locked garage or compound, or even in a driveway rather than on the street, this will also help reduce your van insurance premium.
Consider the impact of van owner and driver variables
Insurance premiums are often more expensive if the owner of the vehicle is not also the registered keeper, and younger drivers – especially those under 25 – are regarded as a much higher risk by insurance providers, so will also increase the premium. It is also tough to secure cheap van insurance for any drivers who have previously been refused insurance or who have motoring claims or convictions.
Compare a range of van insurance quotes before you buy
Different insurance providers will assess risk and offer discounts on a slightly different basis, so to find the best level of cover and value for your specific set of circumstances you need to get several quotes to compare from a range of different companies.