Insuring a fleet of vans: 5 things you need to know

Running a courier, manufacturing or construction business? Consider these important factors when choosing your insurance policy

Insuring a fleet of vans: 5 things you need to know

If you run a courier, manufacturing or construction company, having a fleet of vans will be essential to running your daily business.

Whether your business owns Ford Transits, HGVS, lorries or minibuses, having commercial van insurance is essential to cover your fleet and your driver.

Without insurance, the cost of replacing vehicles, repairs or compensation can run up huge costs for a company so today we look at the most important things you need to know about insuring a fleet of vans.

1. You can get one policy from one provider

You can insure a fleet of up to 500 vans on one single policy with one insurance provider. There is no need to get van insurance with lots of different companies because there will be too much admin involved and you will have to worry about all the renewal dates with the different companies.

2. Pay less the more vans you insure

Buying fleet insurance is like purchasing in bulk so the more vans you put under your policy, the cheaper it will be to insure each individual van. This is another reason why it makes sense to insure all your vans under one provider. If you have less than 10 vans you wish to insure, you can look at getting Mini Fleet Insurance.

3. You can insure all drivers on the policy

One of the biggest advantages of one single fleet insurance policy is that you can add any of your drivers or employees to use any of the vehicles. For a delivery company, you don’t want the orders to stop going out just because a van has broken down or the main driver is absent.

Any other driver will be allowed to use the other vans available so this will reduce business interruptions and maintain your productivity.

Typically, drivers under 25 and those with little experience on the road will cause the cost of your insurance to increase because this profile is historically more prone to accidents. So it might be worth limiting this category on your policy or you can encourage them to do an additional training course such as SAFED Van Driving Course which is recognised by most van insurers.

4. Add safety features to reduce cost

Van insurance companies provide lower premiums to vehicles that have adequate safety features in place since they are less likely to be broken into or stolen. Therefore, companies with a fleet of vans are encouraged to add proper locks and alarms on their vans. Plus, if you can put your vans in a garage overnight and prove this to the insurer, your premium will drop significantly.

5. The more goods you haul, the more you pay

If your vans are used to hauling goods or materials, the price of your policy usually depends on the weight of your goods and the size of your van. Also known as ‘Goods in Transit Insurance,’ this type of policy offers cover just for the goods you are hauling and not your personal goods such as your mobile phone.

This article was provided by Call Wiser, a new comparison site where van insurance quotes can be made easily over the phone.

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