Insuring your vehicles especially
commercial, business and transit vans is imperative since it is a vital part of
your business. Proper van insurance policies
ensure that your van is protected against theft and other accidents caused by
third parties. In general, van insurance is provided to transit vans, courier
vans and escort vans.
Types of Commercial Van Insurance
Generally, van insurance is
calculated on the size, model and value of your vehicle and the range of
coverage you would like for your van. Commercial van insurance is basically
divided into three types depending on the coverage for different kinds of
damages and losses.
Fully Comprehensive Van Insurance: Though expensive, this policy is
comprehensive and provides coverage for all types of risks including accidents,
collisions, damages, thefts, fire and vandalism. The coverage is also extended
to third party vehicles, burglaries and incidents of accidental damages where
the third party can be a single person or a company. It also covers physical
and bodily injuries to yourself and third parties.
Third party fire and theft van insurance: The coverage of this
policy extends to losses caused by vandalism, accidents, fire, theft,
explosions and other damages caused by third parties to your vehicle. However,
the coverage criterion to your van is limited in this policy. The estimate
absolutely depends on the cause of the damage. For instance, you cannot claim
insurance if your van runs into a vehicle whose driver is not insured.
Third Party Commercial Van Insurance: This isone of the cheapest and simpler van insurances where the coverage
is limited to damages caused by your van on third parties.
Transit Van Insurance
Transit van insurance is relatively cheaper since these vehicles are involved in the least amount of
accidents. Most passengers feel safe inside the van especially because of its
structure and even during accidents; there is minimal damage to the vehicle. In
other words, least amount of damage and injury means the claim amount is less
In most cases of van accidents,
the third party vehicle is usually smaller thus leaving minimal damage to the
van. However, vans do undergo accidents with bigger vehicles where there is a
considerable amount of damage to the van. If liability is your only requirement
and you own the van then it is easy to obtain cheaper transit van insurance.
Remember, flexibility, cost and
quality of service, level of cover required for your van are few important
factors that need to considered before buying a transit van insurance. The cost
of transit van insurance depends on what is inside your van or for what purpose
it is used and where the van is parked. Extra cover is required if you place
your tools inside the van.
Working on options like parking
your van in a safe place overnight and installing security features can help
you bring down premiums. In addition, purchasing and managing your transit van
insurance online can help you get the best deal.
Van insurance quote
Compare your van insurance quote
with different service providers. Analyze each policy based on coverage against
your needs and requirements. Internet offers loads of options to find best and
cheap van insurances.
Van insurance generally depends
on the usage of the van. In other words, the purpose of the vehicle plays a
crucial role since it helps the insurance provider determine the risk and
dangers associated with your van. Remember, higher the risk involved, higher
Another important point of
consideration is the budget for your van insurance. How much money can you
afford on your van insurance? This can be evaluated based on your van's model,
engine, size, weight and other few things. Premiums are relatively higher for
new and expensive vans compared to older ones. Also, understand that premiums
for your van insurance vary based on the locations where you will be driving
Factors like clean record of the
drivers and security devices installed in the vans also affect your costs. If
your van has alarms and other devices fixed, then chances are that you might
get policies at a relatively lower cost.
If you want to cut down your insurance costs, try
buying all the insurance from the same company. However, ensure that the
effectiveness of the insurance is not compromised. Before purchasing van
insurance ensures that few important factors like the breakdown covers, public
liability and business related insurance are included.