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What does Commercial Vehicle Insurance mean?
Commercial Vehicle Insurance is a type of policy that protects vehicles used for business. This type of insurance will not only protect your vehicle, but also the goods and tools you use day to day. Whether you own a coffee shop on the go, or you are a busy local tradesman on the go, you will want the peace of mind that your vehicle, materials, and equipment are protected.
What qualifies as a commercial vehicle?
There is a wide range of vehicles that would qualify as commercial vehicles these include but not limited to:
- Standard Vans
- Cars
- Pick ups
- Tippers
- Heavy goods vehicles (HGV)
- Ice cream vans
Will I need commercial vehicle insurance cover?
If you use your vehicle to provide a product or a service, by law, you are required to have commercial vehicle insurance. Many people think that a standard personal vehicle insurance policy will cover them for work too, which is not the case. You will need a specialist insurance policy to protect you from all the added risk using your vehicle commercially will have.
Due to its nature commercial vehicles often spend much more time on the road making them a higher risk to insurers. It is important to know that if you need to make a claim and your vehicle doesn’t have the correct level of cover, your insurance will be seen as invalid. This means that you will have to pay for all the damages involved in your accident, so it is vital that your vehicle has the right level of cover.
Types of Commercial Vehicle Insurance
We provide price comparison for four main types of commercial vehicle insurance, these are:
Carriage of own goods
This is the cover you will need if you are driving a commercial vehicle to transport your business related goods. If you are a plumber or gardener on the road, this is the type of insurance you will need to protect your vehicle and tools.
Carriage of goods for hire or reward
You will need this type of cover if you are using your vehicle to transport other people or goods that are not for your own business in return for payment. If you are a delivery driver transporting goods to multiple destinations everyday, this is the insurance for you.
Courier & Haulage
Courier and haulage insurance is similar to carriage of goods for hire and reward but at a bigger scale. This type of cover is for the transporting of goods over long distances. Courier insurance is for people transporting multiple goods to multiple different locations in a day, whereas Haulage is for people transporting large amounts of goods to distribution centres or warehouses in commercial vans or HGV’s.
How can I lower my Commercial Vehicle insurance cost?
Security measures- Security systems like immobilizers or cameras can considerably reduce your insurance price.
Avoid Modifications- Sometimes modifications are necessary for the commercial use of your vehicle. Try and avoid modifying your vehicle as much as you can, especially if the modification is performance related.
Build up your NCB- Insurers reward drivers that can avoid making claims with a no claims bonuses yearly. The longer you go without a claim, the cheaper your insurance will be
What levels of van insurance cover are on offer?
Depending on your individual needs, our price comparison engine can find quotes on three main levels of cover:
Third Party Only
Third Party insurance offers the minimum insurance cover. You are protected if you have an accident causing damage or injury to any other person, animal, vehicle, or property. The problem with this type of cover is that it doesn’t protect any repair costs to your own vehicle.
Third Party, Fire and Theft
This is similar to Third Party insurance but with some added features. This type of cover will also pay for repairs or replacement if your car is stolen or set on fire. This type of insurance still won’t cover the costs of damages if you are involved in an accident.
Comprehensive Cover
Comprehensive van insurance is the most popular and offers the highest level of cover. It includes the same perks as Third Party, Fire and Theft, but it also covers the damage made to your own car. This is the case even if the accident was your fault.
What We Need From You?
To apply for a quote all we need is:
Some information about you
Basic driver details such as name, age, type of license and years on the road
Some information about your vehicle
Details such as vehicle type, model, modifications and any security measures installed
Some information about your policy
Details about the cover that you need and any no claims bonuses you might already have
Additional cover to consider alongside your commercial van insurance
This is a type of policy that allows for multiple people to drive the same van without being named on the insurance policy. This is a popular extension to the commercial van insurance policy. If you work in a large team or with temporary workers this is a great way to allow your staff to use a van for work at a short notice, and without adding them to the policy. This type of cover is often restricted to over 21’s.
A policy providing protection in the event of your vehicle breaking down. Not all Breakdown Cover is made equal with varying levels of cover on offer, ranging from basic roadside cover through to a more comprehensive home start policy it is important to understand the level of cover the policy offers
Typically included in most comprehensive insurance policies, accidental damage covers the cost of repairing your vehicle if it is damaged as a result of your negligence.
Our Approach
Finding the right price for your commercial vehicle can be very difficult, but it shouldn’t have to be. It is always worth comparing a variety of insurance quotes before you make your decision, as you will often find a cheaper deal.
At Quote the Market you can:
View your quote online- we are a genuine price comparison site for commercial vehicle insurance, so we don’t just capture customer details and sell them on to insurance brokers. We show you your options.
Customer gets to choose who contacts them, if anyone at all.
Purchase policies online- In some cases you won’t need to contact a broker, all your policy can be purchased online.
Wide panel of insurers- this gives you the potential to cover all types of circumstances, including young drivers, modified vehicles, and drivers with previous convictions.
Frequently Asked Question
This will depend on your insurance policy. If you have a standard named driver policy only the driver named on the policy can drive the car. On the other hand you can also get an all can drive policy, which allows for multiple drivers to use the same vehicle without being named on the policy.
Yes, most commercial vehicle policies protect you both when you are using your car for business and for personal reasons.
Yes your No Claims can be carried over if the bonuses have been issued in the United Kingdom