Commercial Van Insurance - Understanding the Basics Before You Buy
Purchasing commercial van insurance should not be more complicated than insuring any other vehicle. However, a few factors may increase your costs. Review the following carefully before calling your insurance agent.
- Determine how many miles your van will be driven, as your cost will vary based on that number. A commercial van will obviously be on the road many more miles than a family vehicle, plus you have potential growth to consider. If you have more than one commercial van, you may be able to insure them both depending on the age of each vehicle and how much each will be on the road.
- If you own a business, your van will most likely be driven by multiple drivers. Insurance premiums increase depending on the driving record of the drivers. Make sure that whoever you will assign to be behind the wheel has an acceptable driving record. It is also important to review the driving records of potential employees prior to hiring.
- Depending on your business, your van may carry tools that you stand to lose in the case of theft or vandalism. You should insure the contents of your van, but be aware that the cost of doing this varies greatly between insurance companies. Remember, you do not need to insure both the van and the contents on the same policy or even with the same agency, so shop around for the best alternatives.
- Consider how much your van is really worth once it has been customized for your business. Shelves, racks, tool boxes, or other items you add to it should increase the recoverable value in the event of a total loss.
Considering these items before you call an insurance agent will make purchasing commercial van insurance a more efficient process.