Cheap Removal Van Insurance
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Cheap Removal Van Insurance
Getting the correct insurance is pivotal for the success of your removal company. You work out on the road and in and out of others properties, so you’ll inevitably run across some occasional difficulties. Ensure that these unconventional events don’t hit you harder than their worth. What you transport is as valuable to your customers as your business is to you.
It is quite natural that a van is essential for a removal business. But unfortunately, getting your removal van insured can sometimes be one of your company’s most significant recurring overheads, and this kind of insurance is hard to find in low premiums.
Here are the two genuine reasons for this:
- Firstly, every vehicle, whether a van or a car, costs more if you’re using it for commercial purposes instead of using it as a private-use van.
- Secondly, you not only need coverage for your removal van but for the goods it carries. Therefore, if customers’ belongings sustain any damage while you’re transporting them, the policy will have to incorporate ‘carriage of goods for hire and reward’ cover.
For this reason, we always suggest that removal companies (also ‘man and van’ cole trade businesses) use Removalspal impartial cost comparison service. When you decide to insure your removal van, Removalspal could lend a helping hand to find the cheapest quotes by comparing prices from a wide panel of multiple van insurance providers in a matter of minutes.
The best Removal Van Insurance Guide for Companies
If you’re living in the UK and own a removal company, you must have your van insured. Due to multiple insurance providers in the UK, we understand that it becomes difficult to find cheap premiums. Therefore, we’ve summarised everything you need to know about removal van insurance and some tips that’ll help you lower your policy cost:
Why is Removal Van Insurance so overpriced?
Your removal van genuinely is the keystone of your removal operation, meaning it will spend more time running on the road and cover more miles than a private-use van does. Since annual mileage and the time spent on the road make you more prone to getting involved in an accident, insurance companies consider these factors when pricing your policy.
Additionally, due to the transportation of commodities, your provider will need to include ‘carriage of goods for hire or reward’ cover, which results in elevating your insurance premiums.
Carriage of goods for hire and reward – what is it?
When you charge others for transporting their belongings, that business transaction is referred to as a ‘hire and reward’ transaction.
Hire and Reward service carries a risk of damaging the goods you’re transporting in exchange for money if your van gets involved in an accident. Therefore, your removal van insurance tariff will need to add the risk by including ‘carriage of goods for hire and reward’ cover.
For business van insurance policy you’ll have to specify the purpose your van will be used for. If you select the ‘business use for the carriage of goods for hire and reward’ option, your provider will cover both – the goods you transport and your removal van.
What kind of van insurance do I need?
The type of van insurance you take depends on the kind of van you own, the nature of work that van does, and what kind of cover you need. For instance, when you select your level of cover, you can choose:
- Comprehensive Cover: It covers your van for any accidental damage, and also the vehicle or property of the third-party. It also includes any fire damage to your van, and help to cover the entire or some cost of your van if it’s stolen.
- Third-party only cover: Third-party only removal van insurance includes the cost of damage to the other person, their vehicle or property caused by you while driving your van – but it doesn’t cover the cost of damage to your transport.
- TPFT (Third-party, fire, and theft) cover: TPFT offers the similar cover as third-party only cover, including the damage to your van if caused by fire, explosion, self-ignition, lightning, theft, or attempted theft. If the damage is not caused by fire or theft, this type of insurance will not cover the cost.
Shall I opt for Third-party removal van insurance for reducing the premiums?
If you get too high premiums for fully comprehensive removal van insurance, in case you’re a young driver) you might be enticed to plump for third-party cover, but be mindful of the fact that this cover won’t always be cheaper although it’s less comprehensive.
Drivers with worst risk profiles often favour third-party only cover; therefore, some van insurance companies hike the premiums for this coverage, meaning it is sometimes cheap to take out fully-comp insurance. Consequently, we always suggest that removal companies first compare quotes from all the three coverage levels and then choose the policy that offers the most comprehensive cover at the cheapest rate.
Tips to Find Cheaper Removal Van Insurance
Easiest and foremost way of comparing cheap quotes for removal van insurance is to use Removalspal. Every time you need a policy or its renewal, we are here to find you the most competitive rates all over the UK.
Apart from that, the following suggestions can help you reduce the cost of your premium:
- Not parking your van along the roadside: Vans tend to be more prone to be targeted by thieves than cars or any other vehicle. Therefore, parking your van in a garage or on a private driveway can be the best option for you. It will help you reduce the risks of a break-in which in turn reduces your premiums. Moreover, vans parked along the roadside are also more likely to be damaged by a passing vehicle, and that risk would also mitigate if you park your vehicle off-road.
- Avoid other vehicle modification: If your van is modified in any way (by installing roof bars on the top or racks inside) you’ll need to get modified van insurance, and this can prove to be more expensive than you will pay if your van has not been altered.
- Paying yearly: Paying for your removal van insurance yearly will mainly be less expensive than paying it monthly.
- Accepting a higher excess: Accepting a higher voluntary excess will reduce your removal van insurance tariff a little.