The cost of insuring you van is determined by a number of key factors. Whilst you may be unable to do anything at all about some of them, there are certain key factors which you can proactively do to lower your annual insurance premiums.
Factors which you have little control over include;
Where you live in the UK can affect the cost of insurance. Those who live in high risks areas which are usually large cities and towns may have to pay higher insurance costs. This is due to the increased risks to the insurance companies as the volume of traffic increasing the risk of being involved in an accident. Some areas are also classed as high risk areas due to their high vehicle related crime such as theft and vandalism. Most insurance companies use postcodes to identify high risk areas. In this respective it can be a 'post code lottery' as to the cost of insurance.
Drivers under the age of twenty one, or for some insurance companies higher, are considered to be a high risk due to inexperience in driving. Young drivers are also regarded as a high risk because studies have shown that young drivers are more likely to be involved in a road traffic accident.
Being male can also mean you pay more for your insurance premiums, as studies conclude that men, particularly young men are involved in more accidents than women!
Factors which you can have some control over:
The engine size of your van will be taken into consideration by all insurance companies. The more powerful the van the more insurance you will have to pay, which is the same for any type of vehicle.
New vans are more expensive to insure due to their higher market value. To lower insurance costs opt for a van which is five or six years old. A lower market value typically reduces the premiums.
Snazzy paintwork and modifications may make your van a real talking point and seems like a really good idea, however you will pay higher premiums.
Increasing the excess on the insurance premium will lower the cost, however should you be need to make a claim you will not get such a high payout because the excess is always deducted first.
Having a proven good driving history which has accumulated a no claims discount will have a huge impact on the insurance costs. Many insurance companies will offer very generous discounts for careful drivers who have not made any claims.
Fitting anti theft devices such as alarms and immobilisers is usually rewarded by insurers offering further discounts on the policy. Keeping a van in a locked and secure garage when not in use will also be taken into consideration and help lower the costs.
Many insurance companies have terms and conditions which stipulate that tracking devices are fitted to vans before they can offer any cheap van insurance quotations.
Ask for quotes online or by phone from a number of insurance companies to find the best cheap van insurance deals available in your area.
Author Resource:-
Staveley Head are a leading UK insurance broker for cheap van insurance
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