Are you wondering what it costs to insure my van? You've come to the right spot. The amount you pay for van insurance depends upon different factors.
A study published by Statista Research Department shows that van insurance on average cost £1,315 in 2020. The third-party van insurance was most expensive in the same year, amounting to £2,412 on average.
According to Seopa Ltd’s insurance comparison website, 51% of consumers could save £333.62 on their Van Insurance.
Like car insurance, van insurance covers your van against any risks. While car insurance and van insurance are different, the three cover levels are the same. They include fully comprehensive; third-party, fire, and theft; and third-party only cover.
The Fully Comprehensive cover protects against any accidental damage as well as the third-party and their property in case they suffer damage. It also covers the van against fire or theft.
The Third-Party-Only is more of short-term van insurance, protecting the person involved in an accident and the loss they’ve suffered but does not encompass damage to your van.
Besides, the Third Party, Fire and Theft (TPFT) cover protects the third party in case of a mishap. It also covers your van if the damage is due to fire, explosion, lightning, or theft. Apart from these events, the policy does not cover the harm caused by other incidents.
You must decide the coverage according to your van and use. Standard cover can protect your van as well as the content within.
If you use the van for commercial purposes, a goods cover is excellent to insure them against any damage during the transport. If you deliver multiple goods in a single area, a Courier Cover best suits you. It protects the van and the items in case of an accident.
If you plan to make a one-time delivery, temporary van insurance can be useful. It provides comprehensive cover for a short period, such as 24 hours.
*51% of consumers could save £333.62 on their Van Insurance. The saving was calculated by comparing the cheapest price found with the average of the next eight cheapest prices quoted by insurance providers on Seopa Ltd’s insurance comparison website. This is based on representative cost savings from August 2020. The savings you could achieve are dependent on your individual circumstances.