What Are The Three Main Types Of Commercial Van Insurance?
Vans have been the vehicle of choice for commercial and business use for generations. With so many jobs requiring the moving of large amounts of equipment, from painters and decorators to traders and locksmiths, sometimes cars just don’t cut it.As it’s extremely rare for anyone to use a van as their everyday runaround, van insurance policies differ from that of normal car insurance.As with cars and motorbikes, van insurance comes in three basic forms with varying amounts of cover:
Comprehensive – High level cover which protects you against damage to your van and to other vehicles regardless of who was at fault.
Third Party Fire and Theft – Middle of the line cover which covers you against damage you cause to other vehicles, as well as the cost of damage caused by fire or theft to your own vehicle.
Third Party Only – Minimum legal level of cover for the UK. Covers damage you cause to any other vehicle.
These are the basic covers for any van, but if you use yours for commercial reasons, which you probably do, you will need to have a business van insurance policy, too.
Types of Business Van Insurance
There are three main types of business van insurance and the one you require will be determined by how you use your van at work.
Carriage of owned goods – If you carry tools and materials between jobs then you will need carriage of goods business insurance on top of your standard policy. This applies to builders, painters and decorators etc.
Carriage of goods for hire or reward – If you use your van as a delivery service then you will need this type of policy in order to insure the ever-changing contents. This policy protects your van as well as any goods you may be in possession of at the time.
Haulage – For delivery drivers that deliver single items over long distances, haulage insurance is a necessity.