If you’ve been wondering whether it will be cheaper to insure a car or a van, unfortunately, there is no straight answer for you. The answer will depend on a variety of factors that will be discussed in this article.
As with all insurance, the monthly cost of van insurance or car insurance will depend on:
- How old you are
- How much your van or car costs
- if you intend to use your van or car for business or personal use
- Number of miles you intend to cover
If you’re interested in temporary van insurance of any kind, then GoShorty is your best bet, as we offer van insurance on an hourly, daily, or even weekly basis.
What determines the cost of your van insurance?
As previously mentioned, a number of factors can determine the cost of your insurance, some of which may cause it to be more expensive than car insurance.
What you use your van for
Vans are not commonly used for personal use. Unless you intend to use your van for personal use, you will need to get commercial van insurance.
Commercial van insurance generally costs a lot more than personal van insurance, as insurance companies believe it’s more likely that you will claim. This is due to the fact that more miles are often covered in vans when they are used commercially, which means you will be more likely to have an accident and need to claim from insurance.
You will have to add some extra features to your van insurance policy if you want to be covered adequately and effectively. Some of these include:
- Carriage of own goods: This insurance will cover any tools and equipment that you keep inside your van for work purposes.
- Carriage of goods for hire and reward: This type of insurance will cover you if you operate as a courier or taxi driver. You will require this insurance by law if you own a taxi or transport goods that don’t belong to you.
- Goods in transit: This insurance will cover the items you are paid to transport. This means that if any of the goods you are transporting are lost, stolen or damaged in transit, your insurance policy will cover them.
Unfortunately, these features will increase your van insurance costs. However, by using the right insurance providers, you will likely not have to pay that much more.
If you decide to use a car as a taxi, you will still need to add carriage of goods for hire and reward if you want to be adequately covered, so your insurance costs could be very similar.
What type of policy you choose
Your van insurance costs will greatly depend on how extensively you want to be covered. This also applies to car insurance, owing to the fact that the less covered you are, the less you will need to pay monthly or yearly.
You could get cheaper van insurance by choosing a van insurance policy with less comprehensive cover. This could also make your insurance premiums lower than car insurance. However, doing this will affect whether you will be paid out or not.
Unfortunately, this also means that in the event of an accident, fire, or theft of your van, you may not be paid out enough to be able to replace your van or pay the cost of any necessary repairs. Some of the policies available include:
- Third Party Only: This type of insurance policy will only cover the damage you cause to others and their vehicles. You will not be paid out in any way if your van is damaged, stolen, or written off in a fire.
- Third Party, Fire and Theft: This insurance policy will provide you with cover if you damage someone else’s property, and you will be compensated if your van is stolen or damaged by fire.
- Comprehensive: This policy will give you the same cover as all of the above-mentioned policies, and you will also be paid out if your van is involved in an accident.
The mileage you cover on a yearly basis
As previously stated, if you cover more miles, you will end up with higher premiums. If you spend more time on the road, you will be more likely to claim from insurance.
This is because the insurance companies see you at an increased risk of having an accident if you drive more often. Your van will also be more likely to break, as it will end up with more wear and tear than if you were to use your vehicle less frequently.
What type of van you are insuring
The type of van you plan to insure will greatly affect your monthly or yearly insurance premiums, as more expensive vans with powerful engines will cost more to repair or replace.
Engine size plays a role in how much your premiums will be. Vehicles with smaller engines do not accelerate as fast, making them safer to drive, so they will be less likely to get into an accident.
A used van with low mileage and a smaller engine could be cheaper to insure than some cars with larger engines.
What type of insurance group your van falls in
All vehicles fall into different numbered groups with lower numbers meaning cheaper premiums and cheaper van insurance.
The insurance group that your van belongs to will depend on factors such as how much it is valued at, how many miles it has, how powerful its engine is, and how large it is.
There are a number of van insurance groups. The vans that will be cheaper to insure will be smaller, with smaller engines, and likely the cheapest vans to buy new.
Is van insurance cheaper than car insurance?
To answer the question, most of the time, van insurance will be more expensive than car insurance, as the cheapest vans often cost more than the cheapest cars.
If you plan to only use your van for private use, you could get your premiums down to a price that is similar to a car insurance premium. However, it is more likely that a van will be used for work purposes. This means you will need commercial van insurance, which will normally always cost more than car insurance.
There are, however, some ways in which you could lower your van insurance premiums:
Pay for your policy on an annual basis
Van drivers can save some money on their premiums by paying for their insurance annually, as this will reduce the administration fees and interest you have to pay overall.
Use black box insurance
A black box insurance policy is when your insurance company fits a small device into your van to track your driving. If you drive safely by not braking hard and speeding, your insurance premium will decrease over time.
For each year that you do not claim on your insurance, your premium will decrease. This can build up to a point over time where your premiums are 75% lower than they were initially.
If you only use your van for work occasionally, then it may be a good idea to get temporary commercial van insurance, like our hourly van insurance. Weekly van insurance or monthly options are available too. This will protect your no-claims bonus and help to decrease your premiums over time.
FAQS about van insurance
Can I have a car and a van on the same insurance policy?
Yes, multi-car insurance allows you to insure multiple vehicles under the same policy. This can reduce the cost of your premiums as well.
Can I drive someone else’s van on my insurance?
Unfortunately not – you will not be covered by insurance unless your name is specifically listed on that van’s insurance policy. Any van insurance you have will only be applicable to the van that you drive and own.
You can also take out one day van insurance with GoShorty if you plan to borrow a friend’s van for the day.
Find temporary van insurance with GoShorty
If you are looking for cheap temporary van insurance, then look no further than GoShorty. We offer temporary insurance solutions for any situation, so contact us for van insurance quotes today. Alternatively, use our temporary van insurance calculator to give you an idea of how much your policy could cost. It takes seconds to generate an estimated price.