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No Deposit Van Insurance

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Why buy no deposit van insurance?

Drive a van? Then you’ll need an up to date van insurance policy. As competition increases, many insurers now offer no deposit van insurance. This is great for small business who may struggle with the lump sum upfront. No deposit policies allow the cost of insurance to be spread across the year equally. Payments are made monthly, which means you don’t need to find an expensive first fee.

Choosing flexible, no deposit van insurance helps businesses to budget more effectively. As competition hots up between insurers, many are offering van insurance without the initial high deposit. This saves money on the initial cost of insurance.

Choosing a provider with a monthly payment plan option can make life easier. You can insure your vehicle without a high initial investment. Businesses can be sure exactly how much money will be leaving their bank account each month. This is vital for managing cash flow.


No deposit van insurance policies are no different to standard policies when it comes to the range of cover available. The only difference is the terms of the payment. In a standard insurance policy, there may be an initial deposit required. This is usually around 20% of the total premium cost.

With low deposit insurance, the cover available is exactly the same. The difference is that the customer can spread the cost equally over a set number of months.

No deposit van insurance is available for most types of cover, including

  • Third party cover – This is the most basic type of insurance. The policy will cover damage to a third party’s vehicle, but not your own.
  • Third party fire and theft – This covers all of the above, but also fire damage, costs if your vehicle is stolen, and damage caused to your van during the theft.
  • Comprehensive insurance – The most extensive type of insurance, this will cover all the above plus personal effects, windshield damage, accidental damage and medical expenses.

How to save money on low deposit van insurance?

Having the right cover for your van can be expensive. Shopping around can save money on the cost of your premiums. It’s a good idea to compare no deposit options on policies from a range of different insurers. This will help find the payment terms which work best for your situation.

Other ways to reduce your premiums:

  • Increase the excess on your policy. Arranging to pay a higher initial excess in the event of a claim can reduce the monthly cost of your insurance
  • Secure your van.  If your van contains valuable equipment it can be a target for thieves. Fit deterrents like steering locks, immobilisers, trackers and alarms to reduce the risk of a break-in.
  • Build up your no claims bonus. The longer you go without making a claim, the lower insurance premiums will be. This applies to both deposit and no deposit premiums
  • Consider using a smaller vehicle. If your van is for transporting business equipment, consider whether a smaller van could do the job. Engine size is also a factor in premium costs too, so reducing the power or engine size can also lower costs.

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