Van insurance is a legal necessity and failure to have it means that you’d be breaking the law. If you do not insure your van with a minimum of third party insurance, you will be liable for a penalty fine. The level of van insurance that you decide on is dependent on you and how much you are willing to pay, but there are three main types which include fully comprehensive, third party, and third party fire and theft. Here’s a comprehensive guide to all three, so that you can decide on which will be best for you and your budget.
Fully Comprehensive Van Insurance
Fully comprehensive van insurance cover provides protection for damage to the van itself, property, and yourself, even if the liability for the damage lies with you. Because of this, fully comprehensive insurance is usually the most expensive type of cover you can buy for your van, as it offers the highest level of protection. However, it’s worth noting that fully comprehensive van insurance will not always cover you for breakdowns, so it may be necessary to take out a separate van breakdown cover policy.
Third Party Van Insurance Cover
Third party van insurance is the basic minimum insurance cover allowed by law in the UK. When compared to fully comprehensive van insurance, this type of policy will only pay out for any damage to the victim that is involved in accident, and will not cover you for any of your costs. That means that should any damage be done to your van, you’ll be liable for the cost of repairing or replacing it. Third party van insurance of this sort is the cheapest option available to you as it really only offers the basic minimum amount of protection. It can be a useful option if you are looking to insure your van on a budget, or if the vehicle itself isn’t worth a lot of money.
Third Party, Fire and Theft Van Insurance
Third party, fire and theft includes protection if your van happens to be stolen or is damaged in a fire. In the event of an accident that was your responsibility, you will be covered for damage caused to another vehicle, their property, or any parties who are injured as a result. But bear in mind that even if your van is stolen, you will still have to pay your excess for any claim you make. If the value of your van is the same amount as, or lower than your excess, it’s may not be worth paying out for this extra cover anyway.
Shop Around for Van Insurance Using a Comparison Website
City Insurance has their very own quote engine that can help you to save money. We compare a panel of 40 leading insurers to ensure you get the best deal from the comfort of your own home. And once you have a reference number, you can always call us and see if we can improve the quote further! Get a van insurance quote today.