Question of Finance: What's the cheapest van insurance for plumber?
Published 09/09/2010 | 05:00
Q: I AM a 25-year-old plumber and was recently let go by my employer. I have decided to do various pieces of contract work for the rest of the year until things pick up and I can get something more permanent.
I have some work lined up but the most difficult thing in all of this is that I bought a van for work and I am looking to get insurance.
This is proving to be a bit of a nightmare -- the prices I am being quoted are astronomical. Is there anything I can do get a cheaper premium?
A: State body, the National Consumer Agency, has just recently published a study on car insurance which highlighted the price differential that exists for car insurance.
As you have found, the same is true for van insurance. Our research shows that comprehensive cover for someone with a similar profile to yourself, a 27-year-old male, self-employed tradesman with a full, no-claims bonus in Dublin, driving a Peugeot Partner van, will receive quotes that range from €400 to €1,500.
It's staggering the variation in price between providers in the market for the same level of cover. And it is confusing for consumers who are trying to find the necessary cover at the best price.
Before shopping for insurance you need to determine the exact level of cover you need -- comprehensive, breakdown assistance, windscreen cover.
This should all be assessed before looking for a quote. In addition to the level of cover required, you should also assess what factors may make you attractive to insurers, ie do you have a no-claims bonus? Do you have use of a private car? Have you been a named driver on another policy? Also, do you have any penalty points? These considerations can all affect the price of your premium.
- Jonathan Hehir, director, www.insuremyvan.ie