Running a business is hard enough without having to worry about those little extras that crop up from time to time. Expenses such as business ban insurance can be enough to at least make a good dent in profits and at most drive a business over the edge. With a bit of planning and foresight, however, you can cut the costs and give yourself adequate cover to mitigate against something going wrong.
Here are our top tips.
1. Use a broker
If you use a broker, they will also help you find the best deal. They know all the tricks of the trade, who might be the best insurers for your particular situation and they also have access to deals that the general public doesn’t. They will certainly make sorting out your new insurance policy straightforward, there are certainly numerous benefits in working with a broker. Just make sure that any that you approach hold the right certifications before you commission them
2. Never accept an auto-renew quote
When insurance companies send you an auto-renew quote, they are hoping that you will just accept it due to being busy. They never make these quotes as cheap as they possibly can be, they are just relying on you auto-renewing because it’s easier. This isn’t the case, however. It is incredibly easy to go online and use a van insurance comparison service. This way you can find out just how cheap you can purchase insurance for quickly and easily. Plus, it’s super easy to switch providers too, once you have found the cheapest quote.
3. Improve your van’s security
The more security features that your van has, the less risk it is to the insurance company. Most insurance companies cover theft and unfortunately because vans are prime targets due to the nature of the goods they transport, this can drive up the cost of insurance. If you make breaking into your van less appealing through installing alarms or immobilisers your insurance company could well reward you with lower premiums.
It is important that you do have enough cover, however, should the worst happen. Have a read through our guide to choosing a good auto insurance product to get some tips.
4. Be careful who you add to the policy
It is always worth playing around with the named drivers on your policy whenever you do a comparison. Some experienced drivers might bring your premiums down while others might increase them. Have a play and see what happens. There are pros and cons to doing this, read up and work out the best solution for you before you go ahead.
5. Ensure that your tools are covered
It might be worth investigating the possibility of having a separate insurance product for your tools. when they are covered through car insurance it can often drive up the costs because car insurance companies are not specialised enough to deal with it.
A specialised insurance company might just be able to offer you the peace of mind that you need to a much cheaper price.