Any vehicle licensed for the road use requires some form of motor insurance, it is a statutory requirement and information is shared by Insurers and the Motor Insurers Database.
Whether you use your van constantly each day (eg delivery driver) or just to get you and your tools/raw materials to each job, it goes without saying that an accident or theft would have a serious impact on your schedule and profits.
Having the correct level of insurance is critical in ensuring you are back on the road as soon as possible. There are three levels of cover available and they are Comprehensive, Third Party Fire & Theft and Third Party Only . Comprehensive Insurance is the only option where you can include a courtesy vehicle and, for many, this will be an essential part of the cover, keeping you on the road whilst your own vehicle if repaired or replaced.
Anyone who buys their own insurance will be aware of the huge differences in price offered by the nations insurers. By employing the services of an experienced broker you may not pay much more for Comprehensive cover than quoted for Third Party cover. The broker will also save you taking the time out of your busy schedule to obtain all those quotes. It is illegal to own a vehicle that is not insured (even if you don’t use it) unless it has a Statutory Off Road Notice (SORN) so you must ensure there is no lapse in cover.
Who will be driving your van and how will it be used? Most insurers will have a minimum age limit which will be higher than the legal age limit to drive. And if you attach even the smallest of trailers there could well be exclusions that apply to your cover.
As a business owner you will be conscious of expenditure but when it comes to insurance cheap is definitely not always best. One quote that’s a little more expensive may include tools and equipment cover as standard and actually be the best value for money.
Depending on the number of vehicles you operate and the number of drivers you should consider whether to opt for Fleet Insurance and also whether to opt for an ‘any driver’ policy or ‘named drivers’.
Private Motor and Commercial Vehicle Insurance can be a minefield and to obtain the best cover at the best price you should talk to an experienced insurance broker.