Insurance Buying Guide

• Most employers are required by law to hold Employer Liability Insurance cover, to insure against liability for injury or disease to their employees arising out of their employment.  To obtain a quote please visit the Employer Liability Insurance section of this site
• Many businesses use sub-contractors within a project. You should always check that your sub-contractors have appropriate Employer Liability Insurance before allowing them out on site
• Although not a legal requirement, many customers insist on you having Public Liability cover before allowing you to start the job
• Keep up to date with current Health & Safety issues by subscribing to our Health & Safety e-bulletins 
• Evaluate your desired start date, you may wish to have the insurance start at the beginning of a particular project
• Check the limit of indemnity associated with the different insurance products.  You must be insured for at least £5m for Employer Liability cover but in practice most insurers offer cover of at least £10m  
• Some insurers charge very little difference in price for £1m or £2m of Public Liability cover
• Compare like for like.  You will be offered ‘optional covers’ by some insurers, like tools, included in the policy, whereas other insurers will charge you an additional amount for this
• Decide the level of excess you want to go for.  Excess is the amount you will have to pay of the claimed amount, so for example if you have a claim for £1000 and your excess is £500 you might only receive £500 back from the insurer
• Check geographical extent of the cover as some insurers won’t cover companies that work outside of the EU
• Look at the exclusions as specific activities will be excluded by insurers
• You will need to inform the insurer about all aspects of your business particularly the number of employees you have
• If your business changes throughout the course of the year you will need to let your insurance provider know as the nature and scope of your business will affect the premium.

When purchasing a new van you will need to consider two major points, how much weight your vehicle will be carrying and what capacity you will need. Both of these factors are difficult to control as they are mainly controlled by your business requirements. These factors however will have a major effect on your commercial insurance needs, as you need to consider not only your van insurance but also your goods in transit insurance (if you are in the courier business).

Points you will need to consider:

• Type of Vehicle – The type of vehicle you use will affect your van insurance premium. Insurance companies judge this by the GWV (Gross Weight Vehicle), so it is important that you purchase a vehicle that will meet your business requirements for the next few years.
• Size of Engine – The engine size of your vehicle will greatly affect your van insurance premium. The performance and fuel economy of vans have improved greatly in recent years, so be realistic and purchase a vehicle with an engine specification suited to your business needs.
• Where the Vehicle is Kept Overnight – If you keep your vehicle in a locked garage overnight then the risk of it being stolen is greatly reduced, as will your insurance premium.
• In Van Security – Fitting your van with extra security devices such as an alarm, immobiliser or tracking system can be expensive in the short term, but such devices will save you money on your van insurance quote.

The most important thing to remember with your van insurance is to be as accurate as possible with your answers. Insurance is based upon risk and by providing accurate answers you allow the insurance company build an accurate profile of your driving activity and provide you with an accurate van insurance quote. If you fail to provide accurate information you run the risk of voiding your policy.