Commercial Van Insurance

Commercial vans are crucial equipment for many types of business. This is why it’s important to keep your vans safe and insured. With commercial van insurance, you and your drivers can have peace of mind that they will be covered in the case of an accident. Continue reading to learn more about what commercial van insurance is, how it’s classified, what the insurance covers, and how much commercial van insurance can cost.

What’s Commercial Van Insurance?

Commercial Van Insurance is a type of commercial vehicle insurance. It’s also known as business van insurance or company van insurance and will cover your company work vans, as well as any personal or professional possessions kept within them or being transported by them, such as tools and equipment. This type of insurance can cover travel between multiple places of work and the transport of goods and materials while in transit.

Do I Need Commercial Van Insurance?

Insuring your vehicle is a requirement in the United States, but standard van insurance will not cover you if you use your van for business. If you are in an accident, or your van is stolen while you’re on the job, you may be denied coverage if you only have a standard insurance policy. This is why business van insurance is crucial to any business owner that uses a van for business work.

Classifications Of Commercial Van Insurance

There are three main types of commercial van insurance:

  • Carriage of Own Goods Coverage, also simply called Own Goods Coverage, which will protect your van when used to transport business-related goods or tools. If you are a plumber, a florist, or you just use your van for commuting, this is the type of coverage that’s best for you
  • Hire and Reward Coverage, also called Carriage of Goods for Hire and Reward, is meant for those who transport goods to multiple destinations, such as food couriers, furniture transport, or traveling salespersons. This type of coverage is legally required if you use your van to move goods that do not belong to you or people in return for payment
  • Courier and Haulage Coverage, also simply called Haulage Coverage, is for if you plan to transport one or more items over long distances. The definition for this type of coverage is the most variable for the carrier to carrier, so double-check with the carrier that you choose that you are getting the correct coverage for your job

Commercial Van Insurance Policy Types

There are three main levels of commercial van insurance policies:

  • Third-Party Coverage, which is the minimum legal coverage requirement. This covers you for any damages that you cause to other vehicles and people in an at-fault accident
  • Theft, Fire, and Vandalism Coverage, which includes damage to your vehicle that isn’t directly caused by an accident, such in the aforementioned cases of theft, fire, and vandalism
  • Comprehensive Coverage, which includes both Third Party and Theft, Fire, and Vandalism Coverage, as well as covering damages done to your own van and anyone in the van at the time of the accident, even if the accident was your fault

What Does Commercial Van Insurance Cover?

Your insurance policy coverage will vary depending on the plan you choose and the carrier you choose. Beyond the above insurance types, you can also add on extras to your policy, including:

  • Legal Fees Coverage, which covers any fees from lawsuits connected to your driving or an accident
  • Personal Belongings Coverage, which covers any belongings kept in your van if they are stolen, lost or damaged
  • Tools in Transit Coverage, which protects any tools you keep in your van
  • Breakdown Coverage, which covers any roadside assistance needed for van break downs
  • Courtesy Van Coverage, which will cover the cost of renting a replacement van while yours is in for repairs
  • Windows and Windscreen Coverage, which covers the cost of repairs for your windows and windshields if they are broken or damaged
  • Use Abroad Coverage, which will allow you to keep your van covered if you have to cross country lines

How Much Is Commercial Van Insurance?

The cost of your policy will vary depending on the provider you choose and the policy you choose. Other factors can raise or lower your premiums, including the type of business you perform, the type of van you drive, your history of claims, the record of your drivers, the security of your storage for the vans, and your van’s security features.

How To Get Commercial Van Insurance?

Using the Fontana Trucking Insurance website, you can compare the rates of multiple commercial van insurance providers and find the plan and the price range that is right for your business.

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