The research further revealed that 42% of insurance claimants reported the theft of the insured van, with a similar proportion reporting that the contents of their van had been stolen. If verifiable the figures indicate a possible cost to the economy of ?1 billion.
The problem of van and transit van theft also appears to vary from region to region, which accounts for the differing costs in van insurance premiums dependent on the area in which it is purchased.
The report stated that 31% of commercial businesses in the West Midlands region had put in insurance claims, whereas in the London area the figure was down to only 25%.
The survey also indicated that the construction industry was the hardest hit, with 27% of the insured van policy holders making claims.
The report also indicates that 16% of small commercial business van drivers left tools and equipment in vans overnight, and 21% apparently did not ensure the contents of their vans at all.
With statistics showing continued growth in the van market sector ? 322,000 vans are now effectively operating on Britain's roads ? recommendations for greater care and safety are being urged.
Perhaps one possible solution may result from developments in new technology. Recently the Ford Motor Company in the USA, teaming up with the industrial power manufacturer DeWalt, showed off its high security Radio Frequency Identification Technology (RFID) at the 2008 Chicago Auto Show.
The technology, which is operated by a small chip and an antenna embedded into the vehicles, is able to track any construction tools and materials carried in the van, so that they can be monitored at all times.
Ford has also been using RFID in its manufacturing plans and is working on patenting the technology.
Although primarily designed as an inventory device to keep track of tools and materials, the system obviously has a use a deterrent against van and van contents theft.
The company intend to introduce RFID during the 2009 model years as optional for F-series pick ups and E-series vans, and also for the new line of Transit Connect miniature cargo delivery vans. In the meantime, it is evident that if theft continues on this scale, there is a real likelihood that premiums may rise considerably.
Commercial and business van drivers are therefore well advised to seek the advice and experience of established and reputable insurers when considering or taking out new van and policies.
Van insurance provides protection of your vehicle against any sort of mishap. Incase your van faces any accident and gets damaged, then you can claim insurance and get the vehicle repaired. Such an insurance option is a big relief for van owners. Don’t think that if you get your van insured, then, you have to spend much. Finding a cheap van insurance deal is possible. Just follow some methods; it will help you to get your van insured at a cheap rate.
For small business owners, vans are the most convenient communicating device. Basically, such small businesses are completely depended on vans. Hence, if the vehicle is damaged, then it adversely affects the whole business. Under such circumstance, van insurance reimburses all expenses which are occurred due to the mishap. So, a policyholder needs not face any financial crisis.
Generally, a van insurance program offers two types of coverage, one is collision coverage and another one is comprehensive coverage. The first option covers the physical damage of the van. This program is provided in case of any collision. On the other hand, if the van faces any natural calamity like fire, hail, floods, storm etc, then comprehensive coverage is provided.
Now the question is how to avail a cheap van insurance program. There are some methods to lower down the premium of van insurance. These are like,
•By increasing the rate of deductible amount- yes, if you are a good driver, then you can increase your deductible amount in order to lower down your premium.
•By installing proper security device in the van, you can also make your van insurance program cheap. Actually, such security devices provide assurance against theft. Ultimately, it enables the owner to avail insurance at a cheaper rate.
•And last but not the least; in order to avail a cheap van insurance program, do some research. Avail various van insurance quotes, compare them minutely. It will assist you to find a cheap van insurance program easily.
Do you think that it would take much time for finding various loan quotes? Just spend a few minutes for it. Since, various online sites offer van insurance programs; hence, finding a better deal is so easy. Sit in front of your computer and browse various van insurance sites. Within a least period of time, you can easily find out a cheap van insurance program.
Both Robert Thomson & Henry Bell are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Robert Thomson has sinced written about articles on various topics from Personal Desktop, Finances and Pets. See how much you can save on at www.autonetinsurance.co.uk. Robert Thomson's top article generates over 450000 views. to your Favourites.
Henry Bell has sinced written about articles on various topics from Auto Insurance, Debts Loans and Mortgage Insurance. Henry Bell is an author who can certainly identify the kind of insurance that you will need. He is an MBA(finance) from University of Oxford. Car Van Insurance endeavors to find the best possible deals for its customers. To find. Henry Bell's top article generates over 823000 views. to your Favourites.