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 is one 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 as well.
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 the premium.
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 the vehicle.
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.