Most tradesmen use their vans for their business requirements while often being named on a secondary vehicle. Maybe this is your partner’s car or a smaller vehicle that you use for your day-to-day errands? When looking to acquire some cost-effective van insurance, you’re going to want to enjoy the same benefits that you would with any other vehicle.
Many potential van insurers ask the same question: “It is possible for me to transfer my no claims bonus from a car to a van?” This guide will offer all the necessary answers to your van insurance needs and provide you with some top tips for reducing your yearly premiums. According to a research, the van drivers are paying twice as much insurance as other car owners pay and that is due to increase in insurance Premium tax by the government.
Can I indeed transfer this no claims bonus from car to van?
Generally, drivers can easily transfer their no claims bonus to their van when acquiring new van insurance, as their no claims bonus is based on their personal driver history rather than anything related to any specific vehicle.
Transferring your no claims insurance bonus from a private motor vehicle to a van is simple and easily done with most insurance providers. Transferring your no claims bonus can save you between 20% and 60% on your yearly insurance premiums, so it’s certainly worth you doing your research and establishing the facts when organising your van insurance.
However, though the majority of insurance providers will allow you to transfer your no claims bonus from car to van, some insurers can be hesitant. With this in mind, it’s always worth checking the specifics before you sign on the dotted line.
Some additional tips for new van owners
Secure the goods
Van insurance is often more expensive than standard car insurance because of the size of the vehicle and its engine. As vans are mostly used for business, they can often be vulnerable to theft and burglary of valuable tools that may be stored in the back. It is advisable to park your van at a safe place or garage so that your vehicle stays safe and does not get stolen easily.
When considering these possibilities, it’s always a good idea to insure your tools and equipment against theft or burglary. This will reduce your yearly van insurance premium, by creating less risk to the insurer when drawing up a new policy agreement. A security lock system, alarm immobiliser and a steering lock are something that can certainly lead to a lower premium due to reduced risk of theft.
How do you use your van?
Most van drivers use their vehicles for business, but they often use them as modes of transport for non-work-related purposes, too. It’s important to declare to your insurance provider exactly how you use your van, as this could mean significant reductions in your yearly premiums. A van owner must be honest when providing such details to the insurer.
If you’re only using your van for personal use, then there’s less risk involved to the insurer as opposed to if you were carrying valuable items and haulage around. It is necessary to regularly maintain your van and get it checked by a good mechanic so that it does not break down on road or you do not have to face any dangerous accident on high speed.
Choose a van to suit your needs
When starting a new business or purchasing a new van, it can often be tempting to purchase a brand new vehicle that might be larger than what you need for your business.
As mentioned earlier, the size of your van can significantly alter your premiums – so it’s worth, if possible, obtaining a smaller van. If a smaller van is crucial to your business or personal needs, this will save you valuable cash in the long run. It is evident that vans with larger engines and size attract a high premium when it comes to insurance of a van.
When transferring your insurance from car to van, most insurance companies would be happy to transfer your no claims bonus, but drivers should always seek answers regarding the finer print and intricate details of their no claims transfer.