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commercialvaninsurance"Transportation investment often points to which direction the economy is moving in. And the first half of 2013 shows that commercial vehicle registrations (over 6 tonnes) are up 20% compared to this time last year.

Van Sales Up, Economy Up?

Luton van or new hybrid commercial vehicle: it looks like businesses are buying more of them. So why the rise in purchases?

Part of the reason may be that higher numbers of people are turning to self-employment in tough times and need to invest in equipment.

While the Office for National Statistics states that services, agriculture, and manufacturing boosted output in the second quarter of 2013.

It looks like the economy may be on the up, if only slightly. Which encourages more companies to put money into transport and equipment in the hopes of future pay offs.

Commercial vs Private Vehicles

Businesses from mobile food trucks to tradesmen to bands buy vehicles for commercial use. In other words, if a van or truck is used in the process of making an income (no matter how small), it’s considered a commercial vehicle for insurance purposes.

It’s important to know that even if the owner drives the same vehicle to do work as to do shopping and visit friends, the vehicle is classified as a business van. Which has implications.

Do You Need Different Van Insurance?

There are a couple of important factors to consider when you buy a commercial van as opposed to a private vehicle:

  • how many people will be using the vehicle
  • what will be left in the vehicle (own goods or deliveries)

As you may have guessed, these two factors are important because they influence the type of insurance the owner needs to take out.

Good commercial van insurance covers these items depending on the business needs:

  • multiple drivers (as with private cars where the vehicle is insured, rather than a single driver)
  • equipment and/or tools left in the vehicle
  • delivery goods

In addition, a policy that supplies a replacement vehicle if your van has to come off the road for repairs has clear financial advantages for commercial users.

So your business can keep making money as the economy improves."

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