7 Insider Tips for Cheaper Van Insurance

Let’s face it, insurance is a pain, especially for hardworking tradesmen in Britain grappling with rising costs. But it’s also necessary, both by law and to avoid any financial disaster should the worst happen. Fortunately, there are ways to make your van insurance cheaper, saving you some hard-earned cash. To lend a helping hand, we’ve gathered insights from Sten Saar, CEO of Zego Van Insurance, to help you lower the price of your insurance.

Why is Van Insurance So Expensive?

Vans are notoriously pricey to insure, often more so than other vehicles. There are several reasons for this, including their size, typically powerful engines, and the increased crash risks from less experienced drivers.

“Vans often carry expensive equipment and tools, making them a target for theft. This, combined with their higher repair costs, drives up insurance premiums,” explains Saar.

Timing is Everything: When to Apply for New Insurance

One of the most overlooked aspects of securing cheaper van insurance is timing. Applying for insurance at the right time can lead to significant savings.

“Insurers generally offer the best deals about three weeks before your renewal date,” advises Saar. “This is when they are keen to lock in new customers and are more likely to offer competitive rates.”

Opt Out of Automatic Renewals

Never let your insurance auto-renew! Allowing it to do so can lead to a significant price hike. Insurance companies often have attractive deals for new customers, but once that initial period ends, prices can soar. Cancel your plan before it auto-renews and shop around for a new deal.

“Insurers rely on customer inertia. By shopping around and switching providers regularly, you can take advantage of the best introductory offers,” Saar advises.

Van Insurance Quotes

It’s essential to get a wide range of quotes, both from comparison websites and directly from insurers. Contacting insurers directly and playing hard to get can sometimes lead to better deals as they try to secure your business.

“Don’t be afraid to negotiate,” says Saar. “When on the phone with insurers, mention that you are comparing quotes and ask if they can match or beat the best offer you’ve received. This can often lead to a lower premium.”

Here are some phrases you can use:

• “I’ve received a quote from another provider that’s significantly lower. Can you match or beat it?”
• “I’m shopping around for the best rate. What discounts can you offer me?”
• “I’m considering switching providers. Is there anything you can do to lower my premium?”

Improve Your Chances

To lower your van insurance costs, make your vehicle more appealing to insurers. Installing an alarm system, a steering wheel lock, and a tracking device can make your van more secure and lead to reduced rates. Even something as simple as advertising your business on the side of your van can make it less attractive to thieves, which insurance companies may consider.

“Security enhancements can significantly lower your premiums,” says Saar. “Insurers often offer discounts for vehicles equipped with advanced security features like immobilisers and tracking devices.”

Cover Your Contents

Ensure your plan includes contents insurance. While this won’t lower the cost, it will provide better value for your money, covering your tools and equipment. Don’t wait until it’s too late to find out that stolen tools aren’t covered!

“Make sure your contents insurance is adequate for the value of the equipment and tools you carry. This can save you a lot of money in the event of a theft,” emphasises Saar.

Insights from Sten Saar at Zego Van Insurance

According to Sten Saar, CEO of Zego Van Insurance, “The key to lowering van insurance premiums lies in understanding the risk factors and addressing them proactively.” He suggests that taking steps such as using telematics to monitor driving habits can lead to significant savings. “Safe driving data collected via telematics can often result in insurers offering lower premiums, as they can see the lower risk associated with your driving behaviour,” Saar explains.

“Regular maintenance of your van is also crucial,” Saar adds. “A well-maintained vehicle is less likely to break down or be involved in an accident, which can lower your insurance costs.”

Final Thoughts

Yes, van insurance can be expensive, but you can take steps to reduce the cost. Spend a little extra time making your van more secure, shop around for the best deals, and apply for new insurance about three weeks before your renewal date. You’ll be able to save money on your insurance.

If high van insurance costs mean you can’t spend as much on the van itself, consider Zego Van Insurance for competitive rates and excellent cover options. With these tips and insights from Sten Saar, you can make informed decisions and secure the best possible deal on your van insurance.