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Category: Van Insurance

What is business van insurance?

Posted on by Nova Blogger

Do you own a van for business or commercial use? If so, ensuring that it is fully covered with the correct type of insurance is essential. Below is everything you need to know about business van insurance.

How does van insurance differ from regular car insurance?

Van insurance, as the name suggests, is specific to vans and covers the policyholder should the van be stolen, damaged or vandalized.

You would need van insurance if you use it for your sole trader business or it is used as part of a business.

Van insurance policies are tailor-made to vans and you will need this kind of insurance, even if your van is not used and remains locked away and idle for short periods of time.

Should you only use your van for personal use, a regular van insurance policy will suffice.

What does business van insurance cover?

Business van insurance is divided into 3 classes (1, 2 and 3). In addition, there is also commercial van insurance.

Class 1 business van insurance covers you for van driving between sites for work purposes. It doesn’t include cover for door-to-door sales and is the most inexpensive kind of van insurance.

If you wish to add a named driver to your business van insurance policy, class 2 insurance could be a good option for you. It is very similar to class 1 insurance, with the only difference being the addition of a named driver.

Class 3 business van insurance is perfect for long-distance van driving and also covers you for door-to-door sales (delivery of samples only).

Businesses who use their vans for the delivery of sold goods would require commercial van insurance. You would need to specify the nature of the goods you carry in your van and your policy would then cover you for the transport of these goods only.

Unfortunately, commercial van insurance doesn’t cover you for work out of the scope of your insurance policy (ie. helping a friend move house or using it for a second job).

If you have decided that you need commercial van insurance, you will have to select one of 3 classifications:

Transport of goods for hire and reward: this is ideal for courier companies and delivery drivers who carry other companies’ goods for monetary reward
Haulage: a good option for long-distance van driving and deliveries
Transport of your own goods: for those who carry business goods in their vans (such as tools and materials for the work they provide)

What will my van insurance cover?

Van insurance is similar to car insurance in that there are 3 insurance levels to choose from (ie. fully comprehensive, third party, fire and theft and third party only).

The level of insurance you choose from will depend on your specific needs and how high you deem your risk to be.

You can also pay a nominal monthly fee for some added extras including breakdown cover, public liability cover, legal cover, replacement van coverage, tool cover, employers’ liability cover and foreign use cover.

What kinds of vans does business van insurance cover?
You can insure your van for business use if it is a double or single cab van, a light van, a tipper, a pick-up or a Box Luton van.

How expensive is business van insurance?

The monthly premium you pay for your business van insurance will depend on various factors.

The 3 main elements affecting your insurance premium will be the state of your van (how old it is, its engine size and value), your driving profile (a clean driving record will drive the premium down) and your personal profile (such as your age, where you live and occupation).

What Is HGV Insurance?

Posted on by Nova Blogger

Here at Nova Insurance, we provide worry-free and no-fuss HGV insurance. If you were wondering what exactly HGV insurance is, this article will explain everything you need to know.

Definition.

The term “HGV” refers to a heavy goods vehicle, which is essentially any lorry with a gross weight of 3.5 tonnes or more. Most HGVs have more than two axles and require the driver to have a special or upgraded driver’s license.
HGV driver’s licenses need to be renewed at five year intervals and the holder must also have a Certificate of Professional Competence (CPD), which shows that they have completed all the necessary tests and a certain
number of training hours. Your HGV insurance policy can include named drivers only or you can opt to
have cover for any driver over the age of 25. If you use your HGVs for commercial purposes, they will need to have HGV insurance.

What does my HGV insurance policy cover?

Nova Insurance fully understand that you depend on your HGV for your livelihood and, as such, our policies cover this as far as possible. We offer two kinds of HGV insurance: third-party, fire and theft and comprehensive.

Third-Party HGV Insurance.

A Nova Insurance Third-Party HGV policy will cover you for fire and theft. In addition, you will have cover if you damage another vehicle or it is written off. It also covers damage to property, any injuries to others involved in the accident, and damage as a result of theft.

Comprehensive HGV insurance.

As the name suggests, comprehensive HGV insurance policies provide additional cover. Over and above fire, theft and damage to other vehicles and property, your comprehensive HGV insurance policy will cover you for repair of your own vehicle. Also included are any towing costs, return of your HGV after it has been stolen, changing locks and replacing of keys. At an extra nominal cost, we can also include public liability protection, breakdown cover, hazardous goods cover, cover for driving in Europe, and legal cover. You may also specify cover for any trailers, even when they are not attached to your HGV and are stored in your depot.

How much can I expect pay for my HGV insurance?

As with all types of insurance, the amount you pay for your HGV insurance will depend on various factors.
The easiest way to determine your HGV insurance premium is to visit our website and to obtain a quick quote for HGV insurance (https://www.novainsurance.com/business-insurance/hgv-insurance/). Your HGV insurance premium will be influenced by how often your vehicle is out of the UK, the business in which it operates, and whether or not it has a telematics device. If your HGV is normally parked in a secure facility when not on the road, this can help to reduce your premium. Other excellent ways to decrease your HGV insurance premium could be to obtain an advanced driver qualification and to increase your voluntary excess amount.

How To Qualify For Fleet Insurance

Posted on by Nova Blogger

Fleet insurance can be defined as a single insurance policy that covers two or more vehicles in your business. These vehicles can be regular cars, vans, truck or lorries.  Either all the same vehicle type or a mix.

Managing your fleet insurance is much more convenient than managing separate insurance policies for each vehicle and it can save you a lot of time, hassle, and  often money.  In addition, fleet insurance can provide many added benefits, such as 24/7 roadside assistance, cover outside of the United Kingdom and legal liability insurance. Although some benefits may not be included as standard and carry an extra charge.

The amount you pay on your fleet insurance policy will depend on various factors, including the number of vehicles in your fleet, age, type, estimated annual mileage and value of the vehicles.

So, how do you know if you qualify for fleet insurance? This article will discuss the ways in which you could qualify: let’s take a look!

The vehicles within your business must be owned by one entity.

Insurance companies offering fleet insurance policies require that all vehicles on the policy must be owned by a single entity.

This entity can either be an individual person, the business itself or it’s Directors, and you will need to provide proof of this for the policy to come into effect.

A minimum number of insured vehicles is required for a fleet insurance  policy.

Depending on the insurance company you intend to work with, you will need have a minimum number of cars or commercial vehicles in order to qualify for  their fleet insurance policy.

This can vary from insurance company to insurance company and if you do not meet the minimum requirement for your first choice, you may wish to consider approaching another company who accepts a lower number of vehicles for a fleet insurance policy.   Generally speaking you would need a minimum of 2 vehicles for a fleet insurance policy.

The vehicles must be registered in the UK.

The vast majority of fleet insurance providers specify that the insured vehicles must be registered in the United Kingdom.  This means that you must hold valid UK licensing papers for each vehicle on the  policy.

Of course, this is not usually a problem for British businesses, but if your fleet consists of vehicles from other countries (ie. from Ireland or a European country) this could pose a problem and you may need to consider re-registering them in the UK to qualify for fleet insurance.

The insurer must be kept updated to any changes to your fleet for the policy  to remain valid. In order for your fleet insurance policy to remain valid and current, if there are any changes to your fleet vehicles, you will need to inform them of this so that your policy can be modified accordingly.

How Can Tradesmen Keep Their Tools Safer?

Posted on by Nova Blogger

Tool theft in the UK has been on the increase in the last year, with a value of approximately £30,000,000 in equipment stolen. Thieves have become more sophisticated, stealing anything from a few tools to a whole van. Many of the tools are usually stolen from construction sites, equipment lock ups and tradesmen’s vans.

Apart form trade skills and experience, tools are one of the most important asset a tradesman owns. To begin with they cost a lot to buy, and without them a tradesman can’t earn any income. Replacing them can be very expensive so keeping them safe is a must. Even if you are in a position financially to replace stolen tools, the time taken to do so is inconvenient and may result in loss of income. So here are a few ideas to help protect your tools from theft.

 

Van:

Most of the time your tools will be in your van, so the first step is to make your van secure. You can increase your vans security by investing in additional safety locks to make it harder for potential thieves – these can range from deadlocks to slam-locks to plate locks.

It also goes without saying that the van should be fitted with an immobiliser if it does not come with one installed. Make sure you have a fully functional alarm installed, preferably one that is wireless, and remember to install a small CCTV camera in the van to keep watch.

 

On Site:

When you are on-site, try to make sure that you keep your van parked in a busy area. Only take out the tools you need for a particular task, keeping the rest of your tools in your van. If you have to store tools on site, make sure they are kept in a secure toolbox and placed in a safe designated place.

 

At Home:

Don’t leave your tools in your van overnight, because they will be vulnerable. Try to take them out when you arrive home and put them in a secure place till you need them. If you have to leave them in the van overnight, then make sure they are locked up in a secure tool storage box and kept out of sight.

Place a warning sticker on the van to deter potential thieves that says “no tools stored in van overnight”. You can also cover all the van windows so no one can see what’s inside the van. Be sure to check that all your van doors and windows are locked before you leave it, and try to keep it parked in a secured garage overnight. If that’s not possible, then make sure it is parked in a well lit busy area.

 

Other Ways To Protect Your Tools & Equipment From Tool Theft:

There are a few other things that can be done to protect your tools and equipment. First of all, mark all your tools with a UV pen or have them engraved. This can help in two ways, by serving as a deterrent, and by helping to identify any tools. Another way is to put a list of all your tools on a national valuables and property register, and also mark them as registered.

Finally take out motor insurance to cover your van, and tool insurance to cover your tools. Get to know the terms of your policies, so that you know you are storing your van and tools in line with what is expected. Keep an inventory list of all your tools including photos, and receipts, in case you need to make a claim.

 

By becoming a bit more proactive, you can take steps to reduce the chances of your equipment getting stolen. Many of thefts are opportunistic, in that they tend to go for the easy targets, so any thing you can do to make your tools less attractive to thieves will help keep them safer.

 

 

Quick And Easy Tips For Choosing The Right Van For Tradesmen

Posted on by Nova Blogger

 

Finding a suitable van for your business can be tricky. There is a lot to choose from, so some time must be spent researching the various options available. First of all try and decide on your budget before you start looking so as to avoid spending more than you can afford.

 

Leasing A Van Or Purchasing One:

After deciding on your budget, you must choose between leasing a van and purchasing one outright. This decision has to be made carefully as both options have their pro’s and con’s. Your current financial position will be a key factor in choosing.

For example, if you are on a tight budget then leasing might be the best option as it does not require a large payment upfront in comparison to buying a van. You can spread the costs over a fixed term contract by making monthly payments. Also, as you are renting the van, you won’t have to pay for maintaining the vehicle. On the downside, leasing often includes mileage restrictions and the overall payment at the end of the contract might end up being more than the cost of buying upfront.

If however you can afford the upfront costs then buying a van might be the way to go, either a brand new one or a second hand one. It is important to remember that as the van is yours, you are responsible for the cost of maintaining the van together with all the vehicle taxes/licenses and insurances that you require. However you can claim capital allowances for the cost of your van and in so doing reduce your income tax bill.

 

Picking the Right Van For Your Business:

The next thing is to decide what you will need the van for, so as to ensure you pick the right van for your business. Think about how much you will use it and how you will use it, so as to make sure it is the right size and type for your business needs.

 

Various Sizes Of Vans:

There are various sizes of vans, the smallest are the car sized vans, which are best for small loads. Then comes the micro vans which can carry a bit more equipment. Next is the light vans such as transit vans that can carry a large amount of equipment. Finally you have the panel vans which can carry the most amount of equipment.

 

Choosing The Van:

When it comes time to choose the van, make sure you take someone with you who is knowledgable about vans. They will help guide you as to what to look for and what to avoid. Also you must make sure you carry out a thorough inspection of the vehicle you intend to buy as well as a test drive, in order to make sure everything is in good working order.

 

Getting Your Van Ready:

Once you find the perfect van for your business, it is then time to get your van ready. This usually involves customising the interior to suit your needs, as well as branding the exterior to market your services. Getting your branding right is important, you are on the road most of the time and so potential customers will see your van, it can be one of the cheapest forms of advertising. The most common way is to use removable vinyl signs. Choosing the right colours, fonts and logos will help you stand out from the crowd.

 

In summary, finding the right van for your business is a task that requires some careful thinking. There are lots of vans to out there to choose from, but finding the right one means having a plan of action that considers all the variables. By spending some time asking yourself some key questions before you start, you can avoid buying a van that does not match your needs.

 

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