Would the Brand of the Van Affect Your Business Van Insurance Quotes?

Insurance brokers use many factors to determine van insurance quotes. This complex mix of elements is often hard to understand for less experienced drivers. Getting van insurance is relatively easy, but with insurance prices continuing to rise finding reasonable premiums isn’t. A major focus for any insurance broker is the brand of the van, though. Read on to find out why it’s so important.

The Influence

The brand of the van does have an influence. In fact, it’s a big influence which is only second to the person actually driving it. Insurers deem it as important as a result of various studies and statistics released over the past few years.

So what are the reasons why the brand influences the premiums of van insurance cover?

Thievery

Vehicle crime remains high in the UK. Vans are big targets as thieves often assume the owner also keeps expensive tools and machinery stored in the back. The more expensive the van is the higher the chance of crime.

To get lower van insurance quotes, the chance of the van becoming a victim of theft must decrease. One way of doing this is to store it in a garage or secured facility, as opposed to on the street. Installing safety devices like alarms can also go a long way to reducing the chance of theft.

Value

The value of the van at face value is another reason why the brand is such an influential thing. A luxury van brand would incur higher van insurance rates as, again, it increases the chances of it becoming a victim of crime.

It would also cost the insurer more to repair the van if it was involved in an accident. To compensate for this additional risk, the premiums go up. It’s the same with cars. A Vauxhall car costs less to repair than a Ferrari.

Age and Brand

The brand is directly connected to the age of the van. Older vans cost less to insure as they don’t cost as much to repair, or purchase. Another reason why older vans cost less to insure is they usually only have a few years left before they need scrapping. A brand new van is an investment for the future. It has a long lifespan, which increases the chances of it being involved in an accident at some point.

What’s the Solution?

Generally, it’s best to opt for a brand of van which doesn’t have a ‘prestige’ reputation. Unless you’re particularly attached to a certain brand, you can buy a van which still fulfills your needs from a brand without the same reputation. Doing so would entitle the driver to lower van insurance cover premiums.

About Jen Perkins

Likes: saving money, being debt free (aside from our house), zombies, travel, getting money, blogging and dogs. Dislikes: debt, being broke, bunnies, wasting money, not having enough money to travel the world and paying interest. Facebook  ♥  Twitter  ♥  Google+  ♥  RSS

Comments

Would the Brand of the Van Affect Your Business Van Insurance Quotes? — 5 Comments

  1. Whatever the Van insurance may be high or less, The brand which you buy should fulfill your needs

  2. A very informative post indeed. Certainly one of those that will help potential van insurance seekers big time.. and yes I agree, buying a vehicle which just serves our needs without really rooting for a particular brand can indeed save up a few bucks there!

  3. I totally agree with you. The brand or manufacturer of your vehicle, regardless if it is a van or a car, affects the rate of your insurance premium. More popular and more expensive vehicles have higher possibility of getting stolen. Though there are ways to reduce your car insurance premium, such as installing safety devices and alarms, it is always best to get a vehicle that will serve your needs and shop around for insurance premium before buying one.
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