Why does my Van Insurer ask so many questions?

In order to work out a price, or premium, for your annual van insurance policy, your insurer will need to obtain a lot of information from you. These pieces of information, known as rating factors, are then used to calculate your premium. Many people think that a lot of the questions asked by van insurance companies are not relevant to them obtaining a price, however this is not the case. Over the years, van insurers gather information from thousands of policy holders and compile these into rating charts that calculate the probability of someone making a claim. They then apply these probabilities to the data you provide and work out your price. To try and explain how some insurers may interpret information, we have looked at some of the most important rating factors and why they may affect the premium you pay. The most important thing to remember is to always answer the van insurer’s questions truthfully. Some people in the past have tried changing their answers provided to van insurers in order to reduce their premium. This may work in the short term, but in the event of a claim being investigated, you will find that your policy could be declared void from inception. As a result, you may become liable to pay any claims costs and could also be prosecuted for driving with no insurance.