In the last article we looked at why there was little chance of young drivers easily finding cheap van insurance; in this article, we look to see what they can do about it.
The AA, with their Drivetech initiative, plus other organisations who offer GPS drive monitor systems, have concerns for the number of young drivers on UK roads passing their test days before jumping behind the wheel of a van and the impact that scenario’s having on fleet van insurance quotes, as well as the potential ‘at risk’ status it puts them and other road users in.
Labelled the ‘pay how you drive‘ system, taking out this type of van insurance policy will stagger discounts as better driving milestones are accrued by the young driver (or driver who has a high insurance policy because of a high points tally). However, it can have the adverse affect of increasing the premium if the standard of driving deteriorates.
Good van insurance deals come in small packages
Start small. The physical size and engine capacity of your commercial vehicle will have a direct affect on your insurance quote. It is sometimes tempting, especially if you have the finance in place, to buy a brand new van that’s as big as your money can buy. When you’re starting out, don’t fall into that trap.
The theory is, the smaller the van, and its engine, the easier the vehicle will be to handle therefore the less likely a broker is to have to shell out for accident damage and repair. On this basis, they will offer you cheaper van insurance.
Likewise, the older the van the less value it will cost to replace. If your commercial vehicle has still got the production line paint wet when you take ownership, alarm bells will start to ring in your broker’s office. To get the cheapest van insurance possible, buy an older model with a smaller capacity and engine in as low an insurance group as possible to allow you to carry out your job, at least until you’ve started to build a no claims bonus history.
One aspect that many drivers overlook is a van’s security, the only real customisation you should be thinking of making. Articles that will score you points are steering (column) locks to deter the opportunist thief, immobilisers to stop the persistent one and a vehicle tracker to trace your vehicle in the event that it is stolen. All will qualify you for discounts that will pay for themselves, over time, even more so if you have a safe lock-up you can park your van in overnight.
And finally, if you do have some start up capital, increase your voluntary excess. The more you commit to paying in light of an incident, the lower your premium will be, the theory being you’re less likely to claim every time you have a small knock than if you’re only prepared to pay the minimum excess before expecting the broker to cover the rest.
