Monthly Van Insurance
Why Monthly Van Insurance?
Two of the most important reasons as to why you need monthly policies are flexibility and better management of finances. When you take a monthly policy, you know the exact amount of commitment that you have agreed to every month and hence, you can plan your finances in a better way. You will not face any unpleasant surprises in the form of hidden costs from your service providers, in this plan.
Many situation arise the make a long-term annual policy inappropriate as you really only need cover for a short period of time, for example one month or more. The most common situation is that you have borrowed a van for a month to cover a peak in business. Additionally you wish carry out some additional type of work that your own van is unsuitable. To fill this demand UK insurance brokers have now introduced monthly van insurance. Monthly van insurance gives you control over how long you pay for insurance coverage, paying only for what you need.
In summary the option to take out monthly van insurance option give you the flexibility to choose an insurance plan for the exact time that you need it for. Before this option was available you had little choice but take out a annual policy and cancel it and hope your broker would refund you for the unused period.
Is one month van insurance more expensive than annual insurance?
When you opt for a pay monthly plan, the premium rates are definitely going to be slightly more expensive than the premiums in the long term plans (over a span of a year). Why? Regardless of the policy length the same processing (paperwork) occurs, whilst this is continually being streamlined it must be passed on to the buyer the same as if the policy was for 1 year. However, you can take steps to reduce the cost of one month van insurance by taking heed to the following advise below.
Types of Insurance Available
It is both a legal requirement and your social responsibility to take out a minimum of third part van insurance. Fully comp or comprehensive insurance will provide you with the highest level of cover and if you shop around it need not be that expensive. This is how we can help, when you enter your van insurance requirements these will be shared with multiple brokers so that you will received not one, but multiple quotes.