Risks to consider when getting commercial van insurance quotes
Are you looking for commercial van insurance quotes?
If so, many experts recommend that you consider the quality of the cover on offer as well as simply looking at the price. Mike Powell from financial analysts Defaqto says: “people need to focus first and foremost on pinpointing the features they need from an insurance policy and identifying the policies that provide that cover.”
So, if you’re researching commercial van insurance, here are some of the risks you may want to consider including in your cover.
1: Theft.
Van theft remains a major problem in the UK. Indeed, figures from the ACPO Vehicle Crime Intelligence Service show that the Ford Transit is the most stolen vehicle in the UK with the Mercedes Benz Sprinter in 8th place.
Could you manage without your van if it was stolen? That chances are the answer would be ‘no’. An AA survey in 2007 found that 59 per cent of drivers believe their van is essential to the smooth running of their business and 24 per cent said that they would lose significant money (on average £362 per day) if their van was not available for a day or longer.
2: Accident.
Just as you may not be able to manage if one or more of your employees were off work sick, you may also not be able to cope if one or more of your commercial vehicles were off the road.
When researching insurance, you may want to ensure that you are fully protected in the event of an accident. That may include cover for your own vehicle as well as a third party and you might also want to consider including ‘replacement vehicle’ cover to ensure a van is provided to you whilst yours is out of action.
3: Theft of contents.
The AA revealed in 2007 that the average value of the contents of a commercial van was £1,382. And, if you run a courier or delivery service or your tools remain in your van, the value of the contents could be significantly in excess of this.
So, you may want to consider including ‘theft of contents’ cover when looking for commercial van insurance quotes. This will help you avoid being out of pocket in the event that yours is one of the 185,000 vans that are broken into in the UK every year.
4: Legal Expenses.
When searching for commercial van insurance quotes, many people also include legal expenses cover as part of their policy.
Legal expenses cover provides expertise and assistance if you have to recover uninsured losses such as excess payments, medical costs and any loss of earnings where the fault was not yours.
