Commercial Vehicle and van insurance in Ireland
It is compulsory to have motor insurance in order to drive your vehicle in Ireland. Thus, it provides for the fact that you have to get your commercial vehicle, regardless of whether it is a car or a van or a truck, insured. According to statistics published by motor stats, over 87 percent of light commercial vehicle sold in Ireland are vans. Therefore, vans are a significant part of commercial vehicles in Ireland.
What is a van?
A van can be defined as vehicle of medium size which usually does not have windows in the rear part.
Most vans are used to transport goods.
What is a commercial vehicle?
Commercial vehicles are vehicles used for the transportation of goods.
These vehicles also transport passengers who pay for this service.
Under what circumstances can a commercial vehicle not be insured under a van policy?
The determining factor in coverage of a commercial vehicle under a van insurance policy is the number of seats or if there any modifications have been made to the vehicle.
A commercial vehicle which has seats at the back of the vehicle cannot be insured under a van policy. A crew cab is an exception to the rule.
Types of insurance available in Ireland
There are 3 types of commercial vehicle and van insurance in Ireland. They are:
Third party insurance policy.
Third party fire and theft insurance policy.
Comprehensive insurance policy.
Third party insurance
Third party insurance is the minimum level of insurance required in Ireland and is also the cheapest option.
Third party insurance does not compensate you.
It only compensates the other parties involved for damage to the other party's vehicle or for any injuries that they sustain. You will not receive any compensation for damage to your vehicle or towards the treatment or rehabilitation of your injury.
Third party insurance do not compensate for provides no cover for loss or damage to your vehicle due to fire or theft.
Third party fire and theft
Under the third party, fire and theft insurance you are covered for damage caused to a third party.
As the name implies, your own commercial vehicle is covered for damage by fire or if it is stolen.
A third party, fire and theft policy is usually slightly more expensive than a third party policy.
Comprehensive
Comprehensive insurance is the most car insurance policy.
This type of insurance policy, not only covers the third party, but also provides for accidental damage to your own car.
You can make a claim under this policy regardless of who is responsible for the accident.
Most comprehensive insurance policies cover the cost of damage to the vehicle but do not compensate drivers for injuries to their person. Coverage for injuries sustained in an accident to the driver is usually covered by health insurance policies.
You can check with the insurance company and get an additional health related cover. You can get a discount as insurance companies generally reward a person buying additional cover and showing loyalty to the insurance company.
Insurance companies have to quote you the same price for your commercial vehicle or van insurance regardless of whether you are a man or a woman.
According to a ruling by the Honorable European Court of Justice (ECJ), considering the customers' gender contradicted laws of discrimination.
Your van insurance Ireland premiums are unisex. The insurance companies were given time by the Honorable European Court of Justice to bring the ruling into effect. The time has expired and the ruling is now binding on every company.
What are the factors that determine the premium you pay on your insurance policy in Ireland?
Your age
Your level of experience as a driver.
Your accident history as a driver.
Your claims history.
The place where you stay
The size of your commercial vehicle or van.
The age of your commercial vehicle or van.
The cost of your commercial vehicle or van
The risk associated with the type of job your commercial vehicle or van will be used.
Whether you agree to an amount Excess amount or not.
What if insurance companies refuse to insure your commercial vehicle or van?
Insurers are bestowed with the right refuse to cover a certain person or property.
However, they have cite a reason for their refusal and they have to put the reason in writing on your demand.
In case you are refused cover by at least three insurers, you go to the Declined Cases Committee of Insurance in Ireland.
Once you are refused a cover by at least three insurers and you go to the aforesaid committee, the Declined Cases Committee of Insurance in Ireland will take up your cause and get a suitable insurance quote for your van or commercial vehicle.
Commercial Van Insurance Vs Private Van Insurance
Vans in Ireland are usually used for commercial purposes.
However a van designed for commercial use can also be used for private purposes.
Commercial insurance policies also cover you for personal use but private insurance policies do not cover for commercial use.
If your van is used transport any kind of goods which lead you to earn even on a part-time basis, your personal insurance policy will not indemnify you for your losses during the commercial activity.
If you have a business vehicle you may also have multiple drivers and the insurance will need to cover all of them in case of private insurance.
Personal van insurance does not cover business owned vehicles or vehicles designed solely for business use.
Although van insurance or commercial vehicle insurance in Ireland is very similar to a private car insurance policy, yet they differ in terms of the cover. The reason is that vans in Ireland are used for jobs that other vehicle cannot do. The premiums charged also differ according to the type of the van, weight of the van etc. Vans are versatile in their functionality and are available come in a wide variety of shapes and sizes. While most vans are part of the light commercial vehicle category, box vans are part of the heavy commercial vehicle category. When getting a van insurance make sure that you choose a good van insurance broker.
Comments
Post a Comment