If you’re self-employed or a tradesperson, it’s likely a van is an essential part of your day-to-day business. Running a van doesn’t often come cheap, so it could account for a large part of your expenditure.
Figures show rising claim costs are increasing van insurance premiums, which are now £1,344 per year on average. To help you save on avoidable costs, Moneybarn has put together some top tips to consider when choosing van insurance.
Size matters
When purchasing a van, smaller sizes tend to have lower insurance premiums. However, you need to make sure the size of the van is suitable for what you need. For example, if you’re not going to be transporting goods, it’s worth considering whether you really need a big transit.
More powerful vans with bigger engines are also going to drive up premiums so do your research and look to getting the smallest engine possible. This will also be more environmentally friendly and save you money on fuel.
Minimise risks
It's claimed a van is broken into and tools stolen every 23 minutes in the UK, so clearly security is a major factor to consider and something which has a big influence on insurance premiums.
Wherever possible, you should park your van in a secure garage overnight or on a driveway to lower the chance of it being vandalised or stolen. If you park your van on the street, make sure it’s in a well-lit location, and ideally within sight of a CCTV camera.
Invest in a good-quality tracker for your van. This may not deter thieves, but it could help to recover your van if the worst does happen. Many modern vans will have a factory-fitted alarm and engine immobiliser which will make your van safer, so consider these features when purchasing a new van.
Limit your mileage 
The more miles you do, the higher the risk of accidents. Try to keep the number of miles you drive each year to a minimum, and if you can only use your van for work purposes. If you’re using your van for ‘insignificant private use’, you also won’t have to pay tax.
Give an accurate estimation of mileage when shopping for your quote, to avoid the risk of your insurance company not paying out if you’re well over the annual mileage your quote was based on. If you find mid-way through a policy your estimated annual mileage changes, it’s worth notifying your insurer to ensure your policy remains intact.
Shop around
While it might be tempting to simply renew your policy annually, you could be missing out on big savings – and potentially a better-suited policy – by not taking the time to see what else is out there. Check out price comparison sites such as Confused.com and Compare the Market to see how much you could save.
If your van isn't worth very much, you could also consider a third party, fire and theft policy rather than full cover. However, this may not offer the cover level you need and they're not always cheaper than comprehensive options.
Don’t rock the boat
Always make sure you're honest when giving your details to an insurer or you risk invalidating your policy. Things such as the levels of commercial use and what you do for work can affect the cost of insurance.
If you modify your van, whether for improved performance or aesthetic reasons, bear in mind it could increase your insurance premiums significantly.
Enhanced vehicles are seen as a bigger risk for insurers, as they tend to be targeted more by thieves or if the speed is enhanced this could lead to a higher risk of accident and if your van is damaged any modifications could make it more expensive to replace. If in doubt, leave it off!
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