If you have several vans in your business, find out how a multi-van insurance policy might help save you money.
A multi-van insurance policy can offer all the protection of standard van insurance and can also include additional discounts. Check out our guide to see how multi-van insurance policies work and if this cover for three or more of your vans could save you money.
Compare multi-van insurance
What is multi-van insurance?
Multi-van insurance works by protecting several vans or multiple drivers, with discounts usually being applied simply for having all the vans insured under one policy. An insurance provider will have its own guidelines but generally, three or more vans can be covered.
Drivers won’t automatically be allowed to drive every van insured under the policy. Instead, they’ll be allowed to drive the vans for which they have been registered as a named driver.
If you own more than one van, selecting a multi-van insurance policy could help to save money that you might otherwise spend taking out separate policies for each van.
Who needs multi-van insurance?
Multi-van insurance might not be suitable for everyone as insurance providers calculate premiums based on how likely a driver is of being involved in an accident in the van they’ve chosen to drive.
Before deciding if multi-van insurance is right for you, you’ll need to think about the age of each driver and their experience, as well as what the van is worth and how it might perform.
People that might benefit from multi-van insurance include:
- Someone that owns three or more vans for personal or business use.
- Delivery or transport businesses.
It’s important to consider all the costs of multi-van cover and compare this to individual van insurance quotes as some separate policies may still work out to be a better deal.
Levels of cover
The minimum level of cover for all drivers in the UK is third party motor insurance. Just like traditional van insurance, multi-van insurance also offers:
- Third party. If you are responsible for causing an accident, you’ll be covered for damage to third party vehicles or property. However, it won’t cover any damage to your own van.
- Third party, fire and theft. This will give the same level of cover as third party but will also provide protection against any fire damage to your van or theft of your van.
- Comprehensive. This gives the same protection as the lower levels as well as protecting your vehicle against accidental damage and vandalism. It might be cheaper than third party, or third party fire and theft, so always check.
What is covered by multi-van insurance?
Multi-van insurance is the same as any other standard single van insurance policy. The main difference is that a multi-van insurance policy will offer a discount for each additional van added to the policy.
Features and benefits will vary depending on the insurance provider so you’ll need to do your research to find a policy that offers you the right protection.
What is not covered?
Common multi-van insurance exclusions are much the same as standard single van insurance exclusions, which include:
- Driving while under the influence of alcohol or drugs.
- Driving a van that isn’t roadworthy.
- Modifying a van without informing the insurer.
- Driving without a valid licence or driving an unregistered van.
- Driving a van while it’s overloaded.
- Driving a van with damaged tyres.
- Hiring out your van.
- Failing to report all accidents.
- Failing to update any personal details.
- Failing to pay for your premiums.
How can I get cheap multi-van insurance?
If you’re planning to insure several vans under one policy, a few simple tips may help with your decision:
- Cover levels. Check whether you can insure each van at different cover levels.
- Features and benefits. Compare the features and benefits of multi-van insurance with separate van insurance policies.
- Policy document. Check the terms and conditions to understand how you might be affected if one of the named drivers is involved in an accident. Will your no-claims bonus be affected? And if so, how?
- Affordability. Can you afford to pay the insurance premiums for all the vans in one go? Consider your cash flow as you’ll be getting one bill at renewal rather than separate and likely smaller bills for each van.
- Shop around. Do your research to see whether you’ll save any money with a multi-van insurance policy. In certain situations, you may end up paying more despite the discount applied for adding another van to the policy. However, keep in mind that the cheapest policy isn’t always the best policy so check the cover details carefully.
Pros and cons of multi-van insurance
- Insure several vans under just one policy.
- Discounts with each additional van insured.
- One renewal date.