Commercial Vehicle Insurance

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What is commercial vehicle insurance and why do I need it?

In short, you are required by law to have commercial vehicle insurance. Anyone who doesn’t have the correct commercial van insurance could receive a fine or driving ban if they’re caught driving uninsured.

People often think that a standard vehicle insurance policy will be enough for them, but this isn’t the case. A standard vehicle policy will not offer the same level of protection as a commercial policy.


What are the benefits of commercial vehicle insurance?

Other than avoiding getting into trouble with the law, what are the benefits of commercial vehicle insurance?

This type of policy specifically protects you whilst you are driving a designated commercial vehicle for all business purposes.


What types of commercial vehicle insurance policy are there?

There are three main types of cover available:

  • Third party only (TPO) – the minimum level of cover required by law
  • Third party fire and theft (TPFT) – this type of insurance policy covers everything that third party covers, plus fire and theft
  • Comprehensive – this is the most extensive van insurance cover, combining TPO and TPFT

What are the different types of classification of commercial vehicle insurance?

There are different classifications of vehicle insurance for business use.

You might think that commercial van insurance only applies to a self-employed driver. As a matter of fact, commercial van insurance is also needed by anyone who is in employment and commutes to and from work in a van or other commercial vehicle.

The different classifications are:

  • Carriage of goods for hire or reward – applicable to couriers and delivery drivers
  • Carriage of own goods –  applicable to tradesmen and commuters
  • Haulage – covers single loads which are being transported over a long distance