Vehicle Value & Van Insurance

The value of your vehicle is very important from the point of view of your van insurance company. It is obvious that a van insurer will pay out less for a van valued at £500 if it is stolen compared with a van valued at £35,000. The same is true of repairs following an accident. If a low value van is damaged in an accident then the van insurer will pay out a small amount as the vehicle is likely to be written off. Compare this to the van insurer’s potential payout to repair a van valued at £35,000 that is involved in an accident. Some van insurers will not insure low value vehicles as they can sometimes be of the opinion that someone with a low value vehicle will not be as worried about taking good care of the vehicle as someone with a higher valued vehicle.