Business Van Insurance

Having business van insurance is a necessity, you cannot cover your commercial vehicle on your personal car insurance or you will void the policy should you get into an accident while driving on a business route. Most insurance companies offer specialized commercial or business vehicle insurance. The rates can be quite a bit higher than you are used to paying for personal auto cover for a variety of reasons.

Business van insurance provide for coverage not only for damage to the vehicle but usually covers damage to the cargo or contents inside the van. These policies also have a higher claim payment for theft as business vans are often targeted. The high miles travelled on business and the multiple drivers that may be registered on the policy for the van are some of the main reasons that the premium costs are high. There are thing that you can do to reduce the cost of the premium. You can install advanced security, tracking and locking systems on the business van and reduce the amount of authorized drivers on the policy for one. You can also require that your drivers have specialized licenses or certificates for commercial driving. If you have a gated lot or warehouse you can drive the van into when it is not in use, which will also help to bring the premium down.

One sure fire way to reduce the cost of business van insurance is to contact an insurance broker or agent from an insurance company and ask for them to come out and do a risk assessment of the van and van storage. They will be able to make specific recommendations for change that will result in a lower premium rate. While that may seem like they would lose money this way, it actually increases their profit by reducing the chance of the company having to pay on a claim.