Cheap van insurance guide – part four

It’s true enough to say that we don’t very often prise much from the claws of insurance brokers. Ever seen a poor one? Didn’t think so. That’s why it’s imperative to get the cheapest possible van insurance from the outset.

Even when you do make a successful claim, you often walk away feeling as if you have had to justify your very existence, not just be recompensed for that which you have paid you dues, by way of premium instalments, in advance.

One of the reasons we do begrudge making a claim, which does have a massive bearing when looking to renew and get cheap van insurance, is that by going through your insurance broker to resolve a motoring incident with your commercial vehicle you will negate your no claims bonus.

It matters not if you were completely innocent, nor what the size of the payout was (for which you may have had to pay the excess). The fact that the insurance firm has paid out on your policy will strike out any opportunity of getting a reduction on your renewal, when it is time to do so.

That is why so many people, especially if they have only incorporated the compulsory excess, who are involved in minor incidents where a repair or replacement of goods damaged will amount to less than the excess and/or subsequent costs, will often prefer to settle any differences in cash.

No claims bonuses can differ from provider to provider, but the ethos that affects your search for cheap van insurance is pretty similar throughout the industry.

A ‘no claims bonus’ will be discounted from your renewal if you have made no claims during the period of the previous or existing policy. Most van insurers will increment the discount relative to consequent years in which you have not made a claim. The percentage off the full premium can go as high as 60% for long-term driving without (claimable) incident. Once you reach that maximum discount, many brokers will give you the option to protect that amount (for a small increase in your premium), year on year. Without this protection, the no claims will become invalid after a gap of two years. In the search for very cheap van insurance, consistent safe and incident-free driving is one of the largest single factors to be taken into consideration.

If you are an existing customer with an insurance firm for your domestic vehicle, you may be able to factor any no claims on that policy into your van insurance policy; however, this rule may differ from broker to broker. It is always worth asking as a provider who assumes your loyalty may not point this fact out up front, without prompting.