The insurance market has always been one of the largest industries throughout the world. Today however the insurance industry is vast, you can insure anything from your mobile phone to your holiday, yet while the market has expanded vehicles remain the most common form of insurance.

However, despite vehicle insurance being one of the most traditional forms of insurance many drivers, especially van drivers do not fully understand van insurance. This simple guide will explain the basics of van insurance, so that you can understand the essential aspects of your van insurance.

The first important aspect every van driver needs to understand is why you should insure your van. Simply, van insurance is a legal requirement on British roads, in order to protect you, your vehicle and other road users. Breaking this law could result in you facing a fine and points on your licence. Insurance for vans is often essential especially to commercial van drivers who need to protect an important asset of their business as well as guarantee peace of mind.

There are 3 types of van insurance offered by most van insurance companies. These are third party insurance, third party fire and theft insurance and comprehensive van insurance. Considered the cheapest insurance type third party van insurance is minimum insurance cover for van drivers required by law. Third party van insurance only covers your liability in the event you damage someone else’s vehicle or property or cause them injury.

Third Party, Fire and theft covers the damage and injury of someone else and their property, but is also offers to repair or replacement of your van if it is stolen or damaged in a fire. Comprehensive van insurance is the most extensive van cover available; it covers everything previously explained including any repairs your van may have obtained and any personal belongings within the van.

There are a number of reasons why van insurance price is different for each driver. These reasons include the make and model of the van, where your van is stored, the intended use of the van and the mileage. Drivers also affect van insurance prices, in particular their age and their driving record, including any previous convictions, claims or accidents.

There are several insurance terms you will need to understand, two of the most important are excess and no-claims bonus. No-claims bonuses are rewarded as a discount to safe drivers, who haven’t made a claim on their insurance, lowering the price of future insurance policies. Excess, is what you are required to pay if you make a claim on your policy. A high excess often lowers your overall policy price.

This guide details every essential aspect of van insurance every van driver should know. And by understanding these vital aspects will ensure you choose your insurance wisely.

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