Private vs Commercial Van Insurance
It is essential as a van owner, to have the right van insurance cover to protect your business if disaster strikes. It is important to know you are getting the right insurance cover in place that is right and suitable for you. Whether or not you require a commercial or private policy, according to the road traffic act 1988, having van insurance is a legal requirement. Commercial and private vehicle insurance provides protection for a range of different vehicles used for commercial purposes. If you have an entire fleet of vans for the running of your business it is important to have commercial van insurance as this policy will cover you for working purposes. It makes sense to have all your vans covered under one policy. Depending on how many vans you have, the size of your business, and what type of work you are involved in this will dictate which policy is best for you.
Types of van insurance
There are 2 main types these include:
- Commercial van insurance (business)
- Private van insurance
Commercial van insurance is if you use your van for work, commuting, and transporting goods for work purposes. Private van insurance is known for social use, visiting friends, and if you use the van for hobbies.
What does van insurance cover?
Van insurance will protect you financially if your van is damaged, stolen, or vandalised. The policy will also cover the cost if you damage another person's property or injure them.
Types of vans that can be covered
Most van insurers cover all types of vans, these include:
- Box Luton Vans
- Light vans
- Double and single cab vans
- Tippers
- Pick-ups
What cover levels are available?
Just like motorbikes and cars, there are 3 main types of van insurance available on the market these include:
Comprehensive
Fully comprehensive is the highest cover you can get for your van insurance policy. This policy will cover and protect you, passengers, property, and your van if any damage has occurred and even if it wasn’t your fault. It also insures you if any third party has been involved in an accident. Your van is also protected against theft and vandalism.
Third-Party Fire and Theft
Third-party fire and theft offers you basic protection covering the costs of any damage to a third party property which you may have caused, if your vehicle is stolen or the loss of your vehicle, or it goes on fire.
Third party only
Third party cover is the minimum legal requirement for your vehicle. It covers your liability if you injure another person including damage to another person's property or other vehicle.
Types of commercial van insurance
There are different types of commercial business van insurance these include:
Carriage of goods for reward or hire
Carriage of goods for reward or hire is a policy you will need if you are a delivery driver. It will cover you for driving to several places and transporting other people's goods and belongings.
Haulage
If you have to drive and travel long distances and deliver to one destination only then you will only need haulage commercial van insurance. This would be the most suitable for a truck driver.
Carriage of own goods
Carriage of own goods protects all your belongings in the vehicle such as tools and work equipment. If you own your own business and need a work van with being self-employed such as plumber or builder you will require this type of van insurance. It can be also called “carriage of tools cover” which covers you while transporting all the belongings you need to complete a job.