Van Insurance Myths Busted  

van myths busted It’s often said that knowledge is power, so we’ve decided to untangle some of the most common myths in the van insurance industry. Popular misconceptions can have serious consequences, leaving unwitting van drivers out-of-pocket or even on the wrong side of the law. Here we separate fact from fiction:

More expensive vans mean more expensive insurance premiums

Motorists often assume that more expensive vans will be more expensive to insure, but things aren’t quite so simple. Calculating insurance costs is all about calculating risk (the higher the risk, the higher the premium), and while vehicle value is one risk factor, there are others which can have a greater bearing on premiums. If you consider that the lion’s share of insurance pay-outs are for personal injuries following collisions (rather than vehicle repair bills) it begins to make sense. Other key risk factors that affect premiums include: driving history, vehicle usage and vehicle storage.

Fully comprehensive cover allows you to drive any van

An alarming proportion of motorists mistakenly believe that comprehensive insurance allows them to drive any vehicle. While some comprehensive policies provide cover for driving other vans, it’s generally limited to third party liability (which means you won’t be covered for any damage to your vehicle). Terms and conditions vary between providers and it’s important to know exactly where you stand.

Speed awareness courses won’t affect your van insurance premiums

In the past five years the number of motorists attending speed awareness courses has doubled, with 1.2 million participants last year. Courses are offered for minor speeding violations and mean offenders won’t get any penalty points and it won’t affect their insurance premiums. However, it doesn’t take long to find media headlines showing that courses can push-up premiums. In reality it depends on your provider and the majority won’t ask if you have attended a course and it won’t affect the cost of cover. However, if you are asked you’re legally obliged to tell the truth.

Buying directly from the insurance provider saves money

Every van driver knows that insurance is a competitive marketplace, and that it pays to shop around, but some misguidedly believe that you’ll only get the best deals by going direct. However, the opposite’s true and you’re much more likely to get a better priced policy by using a broker. Industry expertise and influence allows brokers to hammer out seriously competitive deals (some of which you won’t find anywhere else) and we should know as we’ve been arranging cover for nearly half a century. In a handful of circumstances, motorists could make savings by ringing around individual providers, but it’s the exception rather than the rule. If further proof is needed we guarantee to beat your van insurance renewal premium by at least 10% and hopefully a whole lot more (with similar cover, based on the same details). To find out more visit our van insurance pages.

Comprehensive van insurance cover costs more

It’s easy to see why van drivers fall into the trap of assuming that comprehensive cover is more expensive than third party insurance, but it’s often significantly cheaper. Statistics show that third party policyholders are more likely to make a claim and that claims tend to be higher. As a result, insurers aren’t keen to provide cover which means less competition and higher premiums.

If an accident is not your fault you won’t pay a penny

Making claims can be complicated and insurers are often unwilling to admit who’s to blame. If the other driver admits to being ‘at fault’ you won’t have to pay for repairs, but you may have to pay an excess which you should be able to claim back from their insurer. However, that doesn’t mean that your premiums won’t go up as analysis shows that motorists who have made a ‘no fault’ claim are more likely to make an ‘at fault’ claim.

You only need insurance if your van is being driven on the road

In 2011 the rules surrounding insurance changed with the advent of Continual Enforcement. Now all vehicles must be insured unless declared off road with a Statutory Off-Road Notice (and they must be kept on private property). If your van is kept on a public road you’re obliged to have a minimum of third party cover.

Drivers with criminal convictions can’t get affordable van insurance

There are nine million people in the country with a criminal conviction and many have a hard time finding sensibly-priced van insurance. The big volume providers often aren’t interested and simply refuse cover, but that doesn’t mean that ex-offenders can’t get a good deal from a specialist provider. Criminal convictions often have no bearing on driving ability and someone who’s served their debt to society need not be punished with prohibitively high premiums. As one of the country’s leading brokers, we’ve got access to a panel of insurers who specialise in providing van insurance for drivers with criminal convictions.

 


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