Business Van Insurance

Business Van Insurance Explained

Obtaining insurance for your vehicle is a legal requirement. However, this only provides you with a standard cover and this is not sufficient if you are using your van for your business. Having a business van insurance policy can give you peace of mind. So how do you choose the right business van insurance policy that suits your needs? Here are some important things that you need to know before you start looking

What is business van insurance?

Business van insurance is a unique type of insurance policy that can cover your van if you intend to use it for commercial or business purposes. Generally, it gives you a standard cover, however, business van insurance also offers other coverage which is not found in a standard policy. For instance, this can cover you if you are delivering goods.

Where can I get Business Van Insurance?

We recommend using Simply Business they are rated 4.7/5 on Feefo and have over 800,000 insurance policies in the UK. They compare many different providers so you can find the insurance cover that is right for your business van.

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Do you need business van insurance?

If you own a vehicle, then it is mandatory that you should get insurance for it, whether, you have a motorbike, car, or van. Even if you don’t use your vehicle more often, you still need to get insurance. Except if you’ve stated in your registration that it is ‘off-road’.

Keep in mind that a standard van insurance policy cannot protect you in the event that you use your van for your business. This means that your van cannot be covered if it is stolen or has encountered an accident while on the road since you are using your van for commercial or business purposes.

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What can be covered by a business van insurance?

The extent of your coverage for your business van insurance will likely depend on the level of cover that you’ve chosen.  The coverage of van insurance is just the same with car insurance. It offers third-party coverage, which is the minimum standard requirement for anyone to be able to drive. It can pay for the damages on properties or vehicle and injuries to someone caused by your driving. However, it cannot pay for the repair cost of your own vehicle.

The third party, fire, and theft coverage is composed of all the things that are covered in the third party policy with the addition of theft and fire damage to your vehicle a well as theft coverage for non-business stuff on your vehicle. Finally, fully comprehensive coverage can cover all the things that are included in the third party, fire, and theft, likewise, any other damage obtained by your vehicle no matter if you are at fault or not.

What types of business van insurance should you get?

When choosing the type of business van insurance, you should take into account the reason for using your van. For instance, own goods business van policy can cover you if you are carrying your own goods on your van. This includes the goods that you need to deliver, the tools that you need for your trade, or the goods from a wholesaler.

The courier and haulage business van policy is a cover intended for those who are carrying one or more items which they will transport over long distances. A good example would be those branded delivery trucks which are often seen on motorways.

The hire and reward business van policy is mandatory if you are using your van to deliver people or goods in exchange for money. This type of policy is ideal for single jobs only and may not be appropriate for frequent deliveries. For instance, those who are engaged in furniture retrieval. It would be notable to consider that not all business van insurance policies are capable of protecting the actual goods that you are carrying. Rather, they can protect you while driving the van that carries these goods. This means that when accidents happen, you and your van are covered by the policy but not the goods that you are carrying.

Hence, it is highly recommended that you should ask your insurance provider about the coverage of your policy. If you want to cover the goods that you are transporting, then you can get a goods-in-transit policy.

Are there any optional extras which can be included in business van insurance?

Depending on your business van insurance policy, it might include some extras such as tools in transit, breakdown cover, legal cover, courtesy van, etc.

If you want to cover the tools inside your van, then you need the tools in transit coverage. It can pay for the cost of your tools in the event that they get stolen, lost or damaged.

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