It takes planning and careful consideration to be able to lower your premium rates. Whether you are using your van for personal use or as a means to transport products for your business, you need van insurance. Even though research shows that van insurance is considerably higher than car insurance, there are proven ways you can use to lower your premium.
Drive a Smaller Van
The size of your van is a factor insurer consider when writing a quote for your insurance policy. Before you sign up for an insurance policy, consider what you use your van for and find out if a smaller van will still suffice. If for instance you use your van to transport products for your business and there is usually space left, it’s recommended that you downgrade to a smaller van. The smaller your van, the less you’ll have to pay for your insurance policy. If your van is bigger than what you need, you are paying more premium when you could pay less. How powerful the van is another factor you need to consider. Finding a van that fits your needs without seeming wasteful guarantees long-term advantage.
Accurately Declare How You Use Your Van
Even though it is important to find ways of saving money, it is not advisable to give your false insurer information about how you use your van. When you are honest, you start the agreement with your insurer on a good footing. How you care for and use your van helps you get the best deal. In case there are mileage modifications, make it clear as false information can lead to policy cancellation.
Make Your Van More Secure
The more risk your van is exposed to, the more you have to pay for the van insurance. The following are some of the security gear you can install to boost your van’s security like alarm, immobilizer, steering wheel lock and a tracker.
Security etching, as well as proper parking, also helps in keeping your van more secure. Ensure your van is parked in the driveway or the garage where it is safe from damage.
Build up Your No Claim Bonus
Having a no-claim bonus is an excellent way of saving money. If insurers view you as a low-risk driver, you’ll pay less premium. The number of years that go by without you making claims determines how insurers will view you.
Increase Your Voluntary Excess
Increasing your voluntary excess lowers your premium. This, however, means that your future claims will be less than the usual amount. There is usually a compulsory excess incorporated for young drivers and drivers who don’t have much experience.
You can use comparison websites as you shop around for insurance companies so that you land the best deal. It is also recommended to find a broker who is closer to you and work with them.