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With a multi van insurance policy, the personal fleet of vehicles owned by a family at one residence can be protected under one policy. This can work out cheaper,but not all the times. As such get individual quotes and compare. In general the reduced costs of the policies are due in part to the discounts given for having more than one policy with a single insurance firm. Multiple van insurance is the same as van fleet insurance.
A multi van insurance policy is an umbrella type of policy in which several other policies are held under it to represent the individual vehicles being protected.
With the multi van insurance coverage, these are the choices. All of the vehicles can be of the same type or any combination the owners want. Similar to multi car insurance, multi car breakdown cover can be added as an extra or taken out as separate standalone policy.
The vehicles covered must be registered to the same address. While most policyholders of this type are related, it is not a mandatory requirement.
This type of policy is designed to be used for non-commercial motorized vehicles. This includes the following;
Vans under 3.5 tonne
This type of policy is designed for the family that has between 2 to 5 vehicles registered at one residence. The multi van insurance policy can also be for a single person who owns and like to drive more than one vehicle. The upper limit is generally 5 different vehicles, but there have been exceptions to cover more vehicles by some insurance firms.
The choice of what level of insurance each vehicle will have is the decision of the owner. The available options include;
While each vehicle can have the same level of coverage, it is not required.
The choice of add-ons is also the choice of the vehicle owner. This makes it possible for one or all of the vehicles to be covered with breakdown insurance, lost key replacement and or windscreen protection.
The first vehicle is generally at full price with each additional added vehicle at a discount of 10% to 15% off the annual premium costs.
The no claim discount is what a driver earns by making no claims. It is initially granted when no claims are made in a year. With each additional year of no claims, the discount amount should rise. There will be no effect to one driver’s discount if another driver under the multi van policy reports a claim.
The renewal dates will be one year from the time the policy is signed. The payments can be annually or monthly. Some insurance firms will prorate a policy so all of them will have the same renewal date if the vehicle owners want it that way. They can also be different if desired. The advantage of having the same renewal date is all vehicles can be covered with just one payment.
A multi van insurance policy is the easiest way to cover all the vehicles that are registered at one address. This is a custom made type of policy to fit the needs of the policyholders by choosing the level of coverage and who can operate each vehicle.