Here is the classification of various
categories of
Vehicle Use, which have different contributions towards premium values of an insurance policy:
- Social and domestic use – The premium for the insurance policy is decided on the basis of your regular driving to meet your friends and relatives. Also, other considerations like shopping are also considered under this category.
- Commuting – This include your daily drive from your home to your fixed place of work. Also, the parking requirements at railway stations are included in these considerations.
- Business use – This includes your Vehicle Use to more than one places of work, especially when you are involved in a business.
- Commercial travelling – If you are indulged in salesmanship or door to door endorsement, you may expect an addition in mileage of your van. Thus, a higher premium value is what you must expect.
Your address
The insurance premium is evaluated by an insurance company on the basis of your permanent place of residence as well. If you are living in an urban area, you will be faced by higher level of traffics as compared to those living in countryside. Thus, there are more chances of your van involved in an accident. Moreover, your van becomes prone to theft and other security threats. Also, it depends upon the rate of crime in the particular area, where you live. The unavailability of a garage is also considered to be an unfavourable point for
Van Insurance premium value. All these risk factors are considered by insurance companies in deciding the value of premium.
