For many businesses, vans are the vital component that allows them to operate on a daily basis. So it won’t come as a surprise that the theft of a van and/or its contents can be a devastating blow to any business – one that can, in some cases cripple a business and temporarily prevent the owner from trading.
In some cases commercial vans may contain thousands of pounds worth of goods, equipment and tools, which can leave a business seriously out of pocket should the worst happen.
According to a report compiled by BBC Radio 5 earlier this year, a van is broken into and it’s contents stolen every 23 minutes. In previous Police Crime Survey’s less than 40% of victims saw their contents returned.
So how can you protect your van and its contents?
Well, other than taking all the necessary security precautions (e.g. alarms, locks, parking in a secure area etc.), a van and tool insurance policy can provide financial protection and peace of mind.
A van insurance provider will consider your situation in the same way they would a car insurance policy. You will need to provide a range of information such as the value of your van, annual mileage and where you live. Similarly to car insurance, your van will be assigned an insurance group based on its size, power and average repair costs and you will have various different types of insurance (third party, comprehensive etc.) to choose from.
However, most van insurance policies do not cover the contents too. That means if you have an accident and your tools are damaged, or if they are stolen, your van insurance will not cover the cost of repair or replacement. This could have a devastating effect on your business, which could possibly cripple your ability to operate your business.
There are insurance policies available to protect your van’s contents against damage caused by an accident or theft of your tools and equipment. It’s worth keeping in mind that some policies only provide cover as long as your tools aren’t left in your van overnight, so if you would prefer to avoid the inconvenience of removing everything from your van every night and replacing it every morning, it might be better to pay more for overnight cover.
Considering the amount of money collectively claimed for stolen tools and damaged vans jumped from &1.9m in 2015 to &2.8m in 2016, the issue is only likely to get worse. If you are in need of assistance with finding the right insurance for your business gets in touch with West Craven Insurance.