As a driver of a van, you have the responsibility to carry insurance on your vehicle with adequate coverage and to answer all queries throughout the insurance application process honestly. If you give false information, your premium can be negated and your insurance writer may have grounds for not paying out. Before you decide on the type of insurance you want and the amount of coverage you need, there are several things to consider.
If you have a van, or are interested in purchasing a van, this guide will make van insurance less confusing. You are legally obligated to carry insurance to protect you and other drivers in the case of an accident causing damage to their vehicle or injury to the involved parties.
Van Insurance Factors
There are several factors that go into calculating the cost of your van insurance premium.
If you have a clean driving record with no points on your license, no accidents, no tickets and no claims, you will enjoy a discounted insurance premium. However, if you have adverse events on your driving history, your premium will be set at a higher rate.
Most states require you to carry some form of vehicle insurance at all time, if you have no insurance for a specified length of time, you are considered a high-risk driver and will pay a higher rate. Once you have insurance for at least six months, the high-risk status is removed and your premium will be reduced.
In some instance, especially if you will be using the van for work-related activities, your occupation can impact your premium rate. Likewise, the distance you travel to and from work will also affect your rate. The more miles you drive, the higher your premium will be.
If your van has certain safety features, such as airbags or theft-deterrence, your premium may qualify for significant discounts. You may also qualify for additional discounts if your van has anti-lock brakes, daytime running lights, a blind-spot detection system, an on-board emergency response system, a navigation system or rear back-up cameras.
Your premium will be affected by how you use your van the most, whether it is purely used for social activities, work activities, commuting or hauling items. There will also be an impact if you use the van commercially as well.
Value of the Vehicle
The value, year, make and model of your vehicle all affect your premium. Certain vehicles are known for having high insurance rates and if your van is a type often targeted by thieves, expect to pay more for your insurance premium.
Your insurance premium will go up when you add more than one driver, especially if they have an adverse driver history or if they are a young driver. The more drivers you have on your policy, the higher your premium will be.
Choosing the right van insurance doesn’t have to be difficult, talk to a qualified insurance agent today and find out which coverage is right for you.