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Posted by: electime 21st March 2024
Van drivers have been told the five reasons why their insurance premiums may be going up.
Experts at Lease Van have named the reasons why tradespeople and van drivers may be paying extra on their insurance bill. Insurance providers must be made aware of any modifications made to vans as any changes made to the vehicle could increase premiums.
Changing steel wheels into alloys can be beneficial by reducing the weight of the van, but insurance costs may increase because of wheel modification. Van drivers who have specialised equipment inside, for personal or commercial use, should ensure providers are aware of the installations. Tinted windows may increase security levels by deterring criminals, but are classed as a modification so could also be the reason insurance costs have risen.
Tim Alco*ck from Lease Van said: “Van drivers should be aware of the modifications they’re making to their vehicles which could mean insurance prices are actually increasing.
“Even if the changes seem minor and beneficial to your van, such as changing the steel wheel to alloys, insurance providers must be made aware of any modifications.
“It’s important to weigh up the potential increased cost of your insurance compared to the cost of any modifications.
“Adding or removing seats and storage is another modification that could increase premiums, and van drivers installing roof racks should let providers know of the changes due to costs potentially rising.”
Here are the five van modifications which could be increasing insurance:
- Alloy wheels
Alloy wheels can be a benefit to van drivers as the weight of the vehicle can be reduced as the wheels are stronger compared to typical steel wheels. However, any changes to wheels may be a reason for insurance bills increasing.
- Tinted windows
Some van drivers may want to tint windows to prevent criminals from looking inside the vehicle. Tinted windows are classed as a modification so must be declared to your insurance company. Make sure any changes to windows are legal and let enough light through.
- Specialised equipment
Adding new features for tools or installing specialist equipment into your van could mean the insurance premiums go up. Equipment such as refrigeration, dog grooming, jet washing or catering equipment must all be made aware to the provider.
- Adding or removing seats and storage
Any changes to the interior of your van must be reported to the insurance company as it could affect premiums. Some providers may actually lower insurance costs if racking is installed – it may be seen as safer as heavy tools and equipment is stored away safely.
- Roof racks
Installing roof racks to use as efficient storage, especially when carrying large and awkward shaped items, is useful for van drivers. It is important to ensure your provider is aware of the roof racks as the insurance could go up.
