How can I reduce my van insurance premiums?
If you are a van owner you will know what a headache it is to get van insurance at a reasonable price. Shopping around can only get you so far, and you will still need a good level of cover from a reputable van insurance company. So what else can you do to keep your van insurance premiums down?
- Choose your van with care. The most important factor in cutting van insurance premiums is the van itself. Carefully considering the make, size, engine and age of the van before you buy are all ways to reduce your van insurance premiums in the long term. A smaller van, bought second hand, with a less powerful engine, can be significantly cheaper to insure compared to a larger, more powerful van that is brand new and so worth more. So consider carefully exactly how big and powerful a van you really need.
- Consider who really needs to drive the van. The Octagon Van Insurance policy will only insure named drivers.
- Think about van security. Installing an alarm or immobiliser will save you money, but for maximum savings you need to ensure that you fit a system that is insurance approved. You should also try to park your van overnight in a locked garage or business premises, rather than on the street or in a driveway, as this will sometimes cut the cost of van insurance.
- Be a better van driver. Just like with a car, one of the ways to reduce van insurance premiums is to drive more safely. No claims discounts work in exactly the same way for vans as they do for cars, with safer drivers rewarded with lower van insurance premiums.
- Opt for a greater excess. A relatively easy way to reduce your van insurance premiums is to opt for a larger voluntary excess. This will save money on van insurance, but you will have to pay out more in the event of an accident. You are essentially taking a gamble, backing yourself to drive more carefully and avoid an accident, and you need to accept that this may cost you more in the long run if you do have to claim on your insurance.