• The van you want to insure
• The drivers you want to insure
• What you use the van for
• The security you have
• Location
• No claims Bonus
• Voluntary excess amount

The van you want to insure

Obviously, the make and model of your van will affect the price you pay to insure it, as will it’s engine size and value.

Vehicle weight is an important rating factor; small van insurance will be cheaper than that of a larger transit van as the smaller van will be easier to control meaning that fewer accidents should occur.

The drivers you want to insure

All drivers will obviously need to hold valid driving licenses. It’ll be harder to find cheap van insurance for any drivers who have been refused insurance in the past, or who have had special terms imposed on a policy. An ‘any driver’ policy will always cost more, so consider carefully who you want to insure to drive your van.

Age will also influence how cheap a van insurance quote can be. A young driver, particularly 25 and under, will be thought of as a higher risk as they will have less driving experience.

What you use the van for

Couriers and haulage contractors usually need to use specialist companies to find cheap van insurance, as do taxi drivers. Some brokers won’t be able to give you a quote if you use your van to carry hazardous or toxic materials – this is because of the increased risk that comes with these materials.

The security you have

Enhanced security on a van such as an alarm, an immobiliser or a tracker means it is less likely to be stolen or broken into - this means UK insurance companies are more likely to offer you a cheaper van insurance quote.

Location

People living in cities are considered more likely to have accidents, as there are more hazards around. Therefore it is quite common that a van insurance quote of someone who lives in a city will be higher than that of someone living in a more rural location.

In addition, theft and break-in to cars and vans is more likely in certain towns and cities.

No claims Bonus

Each year that you insure your van, and do not make a claim on your policy, you receive what is known as a ‘no claims bonus’. This is a discount on your insurance premium. Each vehicle will earn different No claims Bonuses.

Voluntary excess amount

Whilst most insurance company policies have a compulsory excess, you can also agree to take a voluntary excess charge on top of the compulsory excess amount. A voluntary excess can often reduce the cost of your van insurance policy although you will have a larger amount to pay in the event of you making a claim.

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