Van Lease Insurance

Leasing a van often presents a cost-effective means of transport whether the van is required for personal use or for business use. However, as with any road vehicle, there are many hazards and potential liabilities associated with operating a van. In order to be covered against such hazards and liabilities in terms of cost and legal representation it is essential that the operator holds sufficient van lease insurance. Often a degree of van lease insurance is offered inclusively with the rental of the van; however this is usually insufficient cover for frequent problems such as accidents and damage to the vehicle. If the operator is not sufficiently covered then the operator is often liable for the costs associated with accidents and damage to the vehicle. Such costs can be exorbitant and cause large financial problems for the user if they are not fully insured.

Van lease insurance is usually offered by the company that is leasing the van as a series of options. As stated previously, some form of insurance is usually included within the cost of leasing the van. This inclusive insurance is usually the most basic form of third-party insurance that is available, enough to make the van road legal and provide cover for third parties involved in an accident with the van. However, such a basic form of insurance leaves the operator entirely liable for damage in any form to the van that has been leased.

The next stage of van lease insurance that will often be offered by the rental company is a more comprehensive form of insurance along with a higher premium. This extended insurance will often cover the operator against damage to the vehicle itself as well as other parties. Thus the vehicle could be entirely destroyed and the operator would be covered for the full cost of the vehicle minus a relatively small excess. In order to ensure peace of mind whilst operating the van, this is minimum level of insurance that should be taken out by the user.

Often the rental company will offer additional packages which can be added to the comprehensive insurance in order to cover the vehicle against other eventualities. Such additional van lease insurance cover may include legal cover in case an accident or incident results in a court case. The operator may be able to insure the goods carried in the van against theft or destruction. Furthermore, if the van is booked in advance by means of a substantial deposit, the operator may be able to take out insurance to cover costs should circumstances arise that result in the cancellation of the booking. Numerous additional options may be offered by the rental company but it is down to the operator’s discretion to decide what level of cover is required during the rental.

So when choosing to hire a van for personal use or for business use, it is important to take out a suitable level of van lease insurance to suit the requirements of the operator.