The good news is, once you reach the ripe old age of 50 plus, your car or van insurance should become cheaper. The obvious reason for this is that you are much more likely to have had many years of driving experience and you are much less likely to be involved in a road accident. You are also likely to have built up a healthy No Claims Bonus that will also help to keep the cost down.
The not so good news is, this bit of good fortune is only temporary and once you get to 70 or above, those pesky premiums are likely to start to rise again as insurance companies, using statistical evidence, begin to see their risks rising again.
In more good news though, there are several simple things you can do to lower your van insurance further beyond just your age.
Smaller vans mean smaller van insurance premiums
For instance, the size and performance of your van will have a bearing on how much you will have to fork out for insuring your vehicle. Statistically speaking, a small, low performance van is less likely to be a target for theft and also less likely to be involved in any road accidents. So unless you need a high performance van, it’s a good idea to buy a smaller, less powerful van or downsize your current vehicle.
Where you live and also where you keep your van also has an impact on what it will cost to insure, but this is simply common sense at the end of the day. Not many of us can simply up sticks and move to a lower risk area if you are unfortunate enough to live in a high risk area, but there may be some things you can do to counteract the issue. For instance, if you can keep your van off road in a secure area such as a garage or lock-up, this could help reduce insurance costs.
You can also consider adding security modifications to help make the theft of your vehicle less likely. Immobilisers are one option, as are tracking devices. Just make sure that any security devices that you use are recognised by your insurance company. Here, the AA has a guide to choosing the right security systems for your van.
What about having your van liveried up?
A little known deterrent against vehicle theft is to have it liveried. A plain, un-liveried van is much easier to disguise and blend in whereas, if you have your business plastered all over your van, it makes it much easier to recognise and be found by the police if it has been stolen. Apparently, thieves could be put off by a van that has easily identifiable signage on it. It also acts as a good advertising tool, so is a win-win!
You already know that because you are over the age of 50 your insurance policy should be cheaper for your van; however it is still a good idea to compare quotes from various van insurers. https://www.comparevaninsurance.com/ lets you instantly check various insurance quotes for your van so that you can make sure that you get the best deal and of course, most appropriate insurance for your circumstances.
We mentioned above that because of your age you are likely to have a long driving history behind you, which can be a good thing. Unfortunately, if that history is littered with convictions, motoring or otherwise, or you have made several claims over the years, then this is likely to have an adverse effect on your premiums that even your age cannot help.
Other strategies to reduce your van insurance premiums include:
- Third Party Only
If you don’t think you need comprehensive cover, perhaps because of the age or value of your vehicle, then third party only is a cheaper option as there are fewer situations where your insurer will pay out.
- Lower mileage
Also, if you only use your van occasionally and don’t go very far you will find that the lower the mileage you drive the lower the insurance premiums will be.
- Personal van insurance
Only get commercial van insurance if you use your van for business purposes. If you only use your van for personal reasons, then personal van insurance will be more than adequate.
- No tools kept in van
Not keeping your tools and equipment in your van can also have a bearing on your insurance costs.
However, a word of caution on all the above points: don’t be tempted to under insure your van just to get a better price. This will only come back to bite you if you have the misfortune to need to make a claim at best. At worst, it could find you behind bars if you are caught using your vehicle for something it is not insured for, such as for business when you only have personal cover.