Apart from the fact that it's a legal requirement, failure to have the correct type of cover could end up costing you and your business dearly if your van ever gets stolen, or if you're unfortunate enough to be involved in a collision. Additionally, you need to ask yourself if it's even worth taking the risk, considering you won't be saving a great of money on your premiums in the first place. Basically, if you choose to go down this road, you have very little to gain and plenty to lose.
Even so, how would the insurance company ever know whether or not your van is being used for business? They would have no way of knowing, providing you're never involved in an accident. You also need to realise that if your van ever gets stolen and you have work related contents inside the vehicle at the time, such as tools for example, you won't be able to claim for those items. Of course if your business only requires you to transport relatively inexpensive commodities in your van, then this may not be an issue for you, but if you regularly transport tools and equipment worth thousands of pounds, can your business well and truly afford to suffer such a significant loss?
CHARLOTTE
In the previous paragraph it was mentioned that providing you're not involved in an accident, your insurance company would be none the wiser regarding the fact that you were driving a commercial van without having commercial van insurance. But, what happens if you are involved in a collision? First of all, the police officers who arrive at the scene will draw up a report and part of that report will include information regarding the nature of the contents within the vehicle. If you submit a claim to the insurance company, you'll be asked for a copy of the report and this will inevitably result in your cover being blown.
What happens then? The company you have your policy with will be legally entitled to refuse any claims you make. If you remember correctly, when you first take out a policy, you have to declare whether or not the vehicle is being used for business and if you've declared it was only being used for private use, you've essentially provided false information, thus meaning your policy is subject to immediate cancellation. At this point, you will no longer be entitled to any compensation, so not only will you need to pay for your own van to be repaired, but you could also find yourself having to pay for the repairs to a third party's vehicle.
Of course if the driver or the passengers of the other vehicle have been injured, you could also end up facing astronomical medical bills. On top of all that, you can also expect to find yourself standing in front of a magistrate because the occupants of the other vehicle will almost certainly want to squeeze money out of you once they find out they were in a collision with a commercial vehicle. So, all things considered, is it really worth driving your business van without commercial van insurance?
The difference in price between regular van insurance and commercial van insurance is minuscule by comparison to the amount of money you could end up losing, so from a business point of view, it simply isn't worth taking a chance.
Nobody Knows I Use My Van For Business - Why Should I Pay For Commercial Van Insurance?
For further information regarding commercial van insurance visit http://www.swinton.co.uk/commercial/van/ one of the UK's leading commercial van insurance companies.
CHARLOTTE
No comments:
Post a Comment