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Third Party Van Insurance

Third party insurance is the lowest form of insurance which you can get away with legally in the U.K. It is the cheapest form of insurance which is available but that is only because it offers you the least protection and cover should something go wrong. Third party protection will not protect the contents of your van, nor even the van itself, from fire of theft damage; nor will it protect you if you are involved in an accident. All third party insurance can do is protect other users who are on the road; so if you are involved in a collision which is your fault, they can claim off your insurance for any damage but you yourself cannot.

This is clearly going to be very frustrating if the worst should happen and an accident does occur. Also it may well leave you will crippling financial bills which, particularly if your van is part of a small business, you may find it very hard to pay.  Third party insurance might seem like the easiest, and certainly the cheapest option; you may well have a fleet of vans which all need insuring and thus you are trying to save as much money as possible. This is clearly an admirable aim but, by cutting corners on insurance, you may well end up having to pay out much more money further down the line.

Third Party Fire & Theft

The next step up from third party insurance is third party, fire and theft insurance. This, essentially, does exactly what it says on the tin. It still offers no protection to you and your vehicle if you are in an accident on the road but it does cover you in case of theft and fire and protects other road users whom you may collide with as well. In the case of the theft protection you should talk to your chosen insurance provider and see to what value your goods in your van will be protected- many will vary on what they offer and thus you need to choose a policy which is right for the type of equipment which you regularly have to transport in your van.

If you don’t have that much in there then clearly this isn’t that much of an issue but if you are carrying around very heavy and expensive machinery or building equipment then content insurance for your van is something which you need to consider very closely. Also, look into the details of any fire agreement which you may sign. Are you only covered for deliberate fire (as in arson) or are you covered for any accidental fires which may break out in your van resulting from the equipment which is being stored in there. What is covered will vary from policy to policy so just read the small print very carefully before you sign anything;  you don’t want to end up getting caught up and paying out much more further down the line.

Comprehensive Van Insurance

The next rung up on the insurance ladder is fully comprehensive insurance and, whilst it is the type which costs the most, it is the type which is going to offer you the most cover in the long run. It covers you in case of theft, fire and collisions with other vehicles but it also covers you and any damage to your van as well. This can be vitally important if you want to keep yourself, your family or your employees completely safe on the road. Of course it can seem like a massive inconvenience to have to pay out lots of money upfront for this sort of insurance but, once it’s been paid, you will likely protect yourself from much higher payouts further down the line. You may need to insure more expensive van contents separately but you should discuss any such decision with your chosen insurance provider and see what the best course of action is. Insurance isn’t a luxury, it’s a legal imperative and it is there to protect everyone on the road.