A van for your courier business is often a necessity, but it can be potentially costly business expense. For a small business, high courier van insurance costs can have a particularly damaging impact on its potential profits. Making savings whenever possible in this area is essential when it comes to keeping your company’s costs down.
Improve your van’s security
When you make improvements to the security of your van, it can have an impact on insurance premium costs. Something as simple and affordable as using a steering lock will deter thieves. Fitting an alarm, tracker, or immobiliser will demonstrate to your insurance company that your van is at a lower risk for theft. You should also arrange a safe and secure location to park your van.
Remove any expensive equipment from your van overnight
Emptying your work van at night can also lessen insurance expenses. By leaving any tools (even inexpensive ones) or equipment in your vehicle overnight will make your van an attractive option for thieves. Declaring to your insurance provider that your van is empty at night can reduce your premium.
Build up your no-claims bonus
You might need to wait a bit for this saving to lower your insurance cost. A no-claims bonus is applied for each year that you do not make a claim. Building up your no-claims bonus will no-doubt eventually save you a significant amount of money on your Courier Insurance policy. If you have built up a good no claims bonus on your car, there are insurers that will let you transfer this bonus from your existing car insurance policy to your Courier Insurance.
Drive a smaller van
If you drive a smaller van at a size that is appropriate for the requirements of your business, this can reduce company expenses. A smaller van that has a less powerful engine will most likely mean smaller insurance insurance premiums.
Pay your insurance annually rather than monthly
It is much more cost-effective if you pay for your insurance policy in one go rather than if you make monthly payments. Most often insurers will provide a discount if you are paying for your policy annually
Increase your voluntary excess
An effective method of reducing your insurance premium payments is to increase your voluntary excess. Simply put, the more excess you are willing to pay in the event of a claim, the lower your premium costs will be. However, you should carefully weigh up both the potential advantages and disadvantages of doing this. If you do indeed make a claim, it’s possible that you could wind up losing more money than you’ve saved.
Carefully consider optional extras
If you want to make some savings on your Courier Van insurance, only purchase optional extras that are needed for your business. Add-ons such as breakdown cover can no-doubt be extremely useful in the event of an accident. They will however increase your insurance costs. Do not overspend on adding any extras that would have little benefit to your business.
Compare insurance prices
Shopping around for insurance deals is one of the best ways to get some much-needed savings on your courier van insurance. It is essential that you choose a reliable and trustworthy van insurer to protect your investment.