The progress of the food industry, especially the business sector that provides its services through chip vans is on the rise. So, if you are also an owner, we suggest that you make sure that you get the right type of insurance to cover your fish and chip. This will help you stay on the safe side in case of an accident or other tragedies. Given below are some tips that can help you with your chip van insurance.
First of all, if you are going to get your catering business insured for the first time, we suggest that you get several quotes from different van underwriters. How does the process go? As soon as you have filled in your insurance details, they will be sent to a panel of brokers. After carefully reviewing your details, they will send a quote to you. In other words, you will need to fill in an online form to get the quote delivered to you.
Types of Insurance Available
Now, let us take a look at different types of insurance that you can choose from:
Breakdown cover: while this is not essential, you may want to consider it as the downtime can cost you a good deal of money.
Third Party: Actually, this is the minimum as far as the law goes and it covers damage that may occur to the third parties.
Fire and Theft: just like the third party, this cover includes coverage for the damage that may result from fire or theft.
Comprehensive: it will provide coverage for third party theft, fire and any damage to your vehicles.
Tips to Cut Down on your Monthly or yearly Insurance Premium
Add to the Excess
In case you don’t know, the Excess is the amount of money that you can be held liable for if you get involved in an accident. What you need to do is add to this amount. By doing so, you will take additional responsibility and hold yourself accountable for a bigger sum if an accident happens. The majority of brokers will look at it as an indicator of lower risk. As a result, you will get a lower quote. Therefore, increasing the Excess amount is a great idea.
Limit the Miles:
In this scenario, if you don’t travel long distances on a daily basis, you can let your broker know about it and he may lower the insurance premium that you will pay. This is because you may be less likely to have an accident. So, the insurance provider will have a lower chances of receiving a claim. So, this will be a win-win situation for both you and your insurer.
When your van is not in use, you can add more security for keeping you more secure. However, make sure that the added security is approved by the insurance industry of your area prior to the purchase and installation.
So, these are a few tips that may help you with your chip van insurance. If you follow these tips, you may be able to enjoy lower insurance premiums.