Van No Claims Discount
It is always a good idea to try and build up and preserve a no claims discount on your van insurance policy or commercial vehicle insurance policy. Van insurance can be expensive for your business and there are substantial savings to be made with a full no claims discount - it will help reduce your van insurance premiums and save your business money.
Once you have gained a no claims discount, you have the option on your van insurance policy to pay an extra fee to protect your no claims discount. This is a very worthwhile premium to pay as the long-term savings on your van insurance can be considerable. This ultimately means that you will protect your no claims discount in the event of an accident or claim that you have to make. Check whether your van insurance provider offers this facility.
If you do not protect your no claims discount on your van insurance policy, it is normal for van insurers to reduce your no claims discount by two years if you have to make a claim. If a claim has to be made under a commercial van insurance policy your discount will always be affected unless your insurer can recover its costs from another responsible party. If your van insurance company can recover their costs from the other party then your no claims discount should not be affected but with a protected no claims discount you do not have this worry. In the same way, if you are able to recover your uninsured losses including your accidental damage excess your discount may not be affected - but don't take the chance if your van insurer offers a protected no claims facility.
Your no claims discount on your van insurance policy can even be reduced if a claim is in progress during the renewal process or if your van insurer is expecting to receive a claim. It is possible to reinstate your no claims discount after the event but this can be a time consuming task with some van insurers. Make sure you never have to worry about a claim in progress or accidental damage claims by protecting your no claims bonus when you renew your van insurance. Protecting your no claims discount is normally a very small financial extra on your van insurance policy and is certainly worth the extra cost.
Always make sure your business has comprehensive van or commercial vehicle insurance and ask about protecting your no claims discount.
Van Insurance Direct aims to give you as much information as possible about van insurance and commercial vehicle insurance and why you must have this specialist insurance for your vehicle. We have gathered together links to a selection of the top online van insurance providers but we do not provide or endorse any particular product or make recommendations in any way. Please ensure that the van insurance or commercial vehicle insurance product that you purchase from any online provider meets your needs and that the provider is correctly regulated by the Financial Services Authority (FSA).