A van insurance quote will vary greatly depending on the particular vehicle you drive, as well as your driver profile and the way you plan your policy. Insuring a van isn’t as expensive because they typically aren’t as expensive to fix, don’t appeal to immature drivers and aren’t stolen as often as other cars. Just remember to consider what coverage you’re buying before you go in for the best deal. A good price can indicate a sub par insurance policy.
Year, Make and Model
People often get surprised by the difference between insuring a BMW and a Honda, thinking that the luxury car will cost a lot more because they cost more to buy. Insurance companies aren’t as concerned with purchase price as the risk they’ll have to be repaired or replaced. According to the National Insurance Crime Bureau, the car stolen most in the United States is the Honda Civic. Coming in second? The Honda Accord.
Surprises like these make it important to shop around for van insurance before you buy your car. Most companies can give you rough van insurance quotes. This is your best bet. Too many people forget the cost of a policy when looking at their monthly car payment. Do your research beforehand to make sure you can afford to own and insure your van.
Once you know which makes, models and years fall within your price range, you’ll have an easier time locating which van will fit your needs. Not only does research help you save on your overall bills, it will cut your time down spent researching vehicles.
Driver Profile
You might think your driving record is the end all of your driver profile, but no. Much more goes into the average policy. Where you live and how you park both affect the likelihood of your vehicle being stolen. Increased traffic increases the chances of an accident. Being a young, inexperienced driver or someone with a negative driving history can make your van insurance cost more.
Fortunately, your driver profile also presents opportunities for discounts. Responsible college students can often save a few dollars off their van’s insurance policy, as well as members of the military, teachers and police officers. If you serve the public, it’s worth asking if your job comes with coverage benefits. Being a good driver, having a security system, and covering several autos under the same policy can all add up to big savings.
Coverage Type & Deductible
There are two ways you can save a bundle on van insurance premiums that may not be worth it. Skimping on coverage, and opting for a high deductible will both lower your monthly expenses, but may leave you in a bind if you have an accident.
Limited coverage only pays for other drivers’ problems. If you get in a wreck and get hurt, your company won’t reimburse you for any of your repairs or medical bills. If you don’t have cash on hand, you may not be able to afford to fix or replace your van. Financial experts suggest you carry full insurance until you’re paying more for your insurance than you can get out of selling your car.
The same goes for a high deductible. Insurance companies expect you to pay so much of your expenses before they kick in. Typical deductions run from $250 – $500.
Estimating Van Insurance Premiums
You pay insurance premiums monthly, yearly or every 3 months. These costs pay for your policy, and don’t contribute to your deductible. A wide variety of factors – driving history, your particular vehicle, location, available deductions and so forth – contribute to the amount you have to pay. You man also be interested in a high risk auto insurance quote or a commercial insurance quote.